USDA Loans

USDA loans are low-interest mortgages with zero down payments designed for low-income Americans who don't have good enough credit to qualify for traditional mortgages. You must use a USDA loan to buy a home in a designated area that covers several rural and suburban locations.

A USDA loan is a government-backed mortgage designed to help low-to-moderate-income buyers purchase homes in eligible rural and suburban areas. USDA loans are administered by the U.S. Department of Agriculture and it offers zero-down-payment financing, below-market interest rates, and no requirement for private mortgage insurance (PMI).

To qualify, applicants must meet several key criteria:

Location: The property must be located in an eligible rural or suburban area recognized by the USDA. You can verify property eligibility on the USDA income and Property Eligibility Site.
Income Limits: Household income must generally not exceed 115% of the area's median income.
Credit Requirements: While USDA does not set a strict minimum credit score, automated approvals usually require a minimum credit score of around 620 to 640.

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