USDA Loans are government-backed mortgages aimed at promoting homeownership in rural areas. They provide low-interest rates and no down payment options.
This program is for low-to-moderate income individuals and families looking to purchase homes in eligible rural areas.
No down payment required
Low mortgage insurance premiums
Fixed interest rates
Flexible credit guidelines
Minimum credit score typically around 640
Income must be within eligible limits based on household size
Property must be located in a designated rural area
Proof of income and employment necessary