This program assists low- and moderate-income households the opportunity to own adequate, modest, decent, safe, and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve, or relocate a dwelling in an eligible rural area.
Location and Loan Amounts:
Eligible homes must be located in a rural community with less than 20,000 in population or in open country not closely associated with an urban area. Maps outlining rural areas may be obtained from any USDA Rural Development office located in a county meeting the population guideline.
• Meet income -eligibility
• Agree to personally occupy the dwelling as their primary residence
• Be a US Citizen, US non-citizen national, or Qualified Alien
• Have the legal capacity to incur the loan obligation
• Have not been suspended or debarred from participation in federal programs
• Demonstrate the willingness to meet credit obligations in a timely manner
• Purchase a property that meets all program criteria
Advantages to a USDA Loan
• 100% Financing
• No down payment
• Flexible credit guidelines
• No maximum price
• New & existing properties