Purchase

USDA Home Loans

USDA financing may help eligible low- and moderate-income homebuyers purchase a primary residence in a qualifying rural or suburban area with no required down payment.

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HOW DO USDA HOME LOANS WORK?

USDA's Single Family Housing Guaranteed Loan Program helps approved lenders provide financing to eligible homebuyers purchasing an adequate, modest primary residence in a qualifying area.

USDA does not require a down payment for qualified borrowers, but buyers must still meet household-income, credit, debt, property, appraisal, and repayment requirements.

Potential Benefits of a USDA Loan

No Required Down Payment
Fixed-Rate Financing
No First-Time Buyer Requirement
Gift Funds May Be Permitted
Seller Contributions May Help
Available in More Than Farmland Areas

USDA HOME LOAN OPTIONS

USDA Guaranteed Loan: This is the program most mortgage lenders originate. An approved private lender provides the financing, and USDA guarantees part of the loan.

USDA Direct Loan: USDA provides Direct loans itself to eligible low- and very-low-income applicants.

Who May Qualify for a USDA Guaranteed Loan?

Eligibility may depend on:

Household income within the applicable USDA limit
Stable and dependable qualifying income
Acceptable credit and payment history
Ability to manage the proposed housing payment and other debts
U.S. citizenship or other eligible status
Primary-residence occupancy
Additional USDA and lender requirements

What Properties May Be Eligible?

Potentially eligible:

Single-family primary residences
Certain condominiums
Eligible planned-unit developments
Certain manufactured homes
Existing homes
Eligible new construction
Properties located within a current USDA-eligible area
The home must generally be modest, safe, sanitary, and suitable for year-round occupancy
The property must be the borrower's primary residence
The appraisal and property must meet applicable USDA and lender requirements
Income-producing or nonresidential features may affect eligibility
The exact address must be verified

Understanding USDA Loan Costs

Guarantee Fee
Annual Fee
Closing Costs and Prepaid Expenses
Appraisal and Property Costs

IMPORTANT USDA LOAN CONSIDERATIONS

Both the Buyer and Property Must Qualify
Household Income Limits Apply
Zero Down Does Not Mean Zero Cost
USDA Adds an Additional Review Layer
Eligibility Maps Can Change
Processing Time May Vary

Your USDA Loan Process

1. Review Income and Household Details
2. Check Preliminary USDA Eligibility
3. Compare USDA With Other Options
4. Complete the Application and Property Review
5. Prepare for Closing

A USDA loan can provide a no-down-payment path to homeownership, but both the household and property must qualify.

USDA loans are subject to household-income, credit, repayment, property-location, occupancy, appraisal, lender, and agency requirements.

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Frequently Asked Questions

USDA Guaranteed loans may provide 100% financing for eligible borrowers purchasing an eligible primary residence. Closing costs and prepaid expenses may still apply.

No. Eligible repeat homebuyers may qualify.

Eligibility is determined through USDA's current property map. Many smaller communities and areas outside major metropolitan centers may qualify, but each address should be checked.

Some properties in or near Boulder City may qualify depending on the current USDA map. Eligibility should be confirmed using the exact property address.

Yes. USDA Guaranteed loans have household-income limits that vary by location and household circumstances.

Income received by adult household members may be considered when determining program income eligibility, even when they are not borrowers.

USDA does not reduce qualification to one universal credit score. Credit history, lender requirements, underwriting findings, and the full borrower profile are considered.

Certain manufactured homes may qualify when the home, land, construction, installation, property classification, and lender requirements are satisfied. Eligibility should be reviewed for the specific property and transaction.

Eligible gift funds may be permitted, subject to documentation and lender requirements.

Seller contributions may be allowed toward eligible costs, subject to program and lender limits.

Timing varies based on underwriting, appraisal, title, USDA requirements, documentation, and processing volume.

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