The U.S. Department of Agriculture offers a variety of programs to help low to moderate-income individuals living in small towns or rural areas achieve homeownership.

USDA Loans are an attractive option because:

  • Minimal closing cost
  • Low or NO down payment

USDA loans can be used toward the purchase and renovation of a previously owned home or a new construction. Families must be able to pay their monthly mortgage, homeowner's insurance and property taxes. USDA is not valid for those who have had a foreclosure or bankruptcy in the past three years.

USDA Home Loan eligibility will be determined by your financial history and the property you're choosing to buy.

The property in question must be in a USDA defined rural area. Find USDA Eligible areas HERE.

To also be eligible you must have  2 out of these 3 requirements:

1. An above average credit history with a minimum credit score of 620, depending on the lender, and no outstanding debt payments in collections

2. No “Payment Shock”, meaning you currently pay rent and can prove rent payments.

3. You must have steady and reliable income employed consistently in the same line of work for  2 years or more.