What is a USDA Home Loan?
A USDA home loan is a government-backed mortgage designed to make homeownership possible in eligible rural and suburban areas. Offered through the U.S. Department of Agriculture, these loans provide 100% financing, making them one of the most affordable home financing options available.
Whether you’re a first-time homebuyer or looking for a new place to call home, a USDA mortgage could help you qualify for a loan with little to no out-of-pocket costs.
Key Benefits of USDA Loans
If you’re ready to buy a home and would like to learn more about the benefits of USDA loans, speak with a licensed loan officer in your state who can discuss your loan options and help you find your road home!
USDA Home Loan Requirements
To qualify, borrowers must meet certain USDA home loan requirements:
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Property Location: Home must be in a USDA-eligible rural or suburban area. You can check your property eligibility on the USDA website.
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Income Limits: Household income must fall within USDA guidelines for your area.
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Credit History: Minimum credit score varies, but many lenders require 640+. Work one on one with a local GoPrime Mortgage loan officer.
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Primary Residence: Property must be your primary home, not an investment property.