USDA Loans

Planting the possibilities of rural homeownership with no down payment.

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What are USDA Loans?

USDA loans are government-backed mortgages aimed at helping low- to moderate-income individuals buy homes in rural areas, with no down payment required. They offer benefits like lower interest rates and relaxed credit requirements, but have specific income limits and property location criteria. These loans are ideal for primary residences in eligible areas, not for investment or vacation properties.

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USDA Loan Requirements

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Minimum 640 Credit Score

A minimum credit score of 640 is required for USDA Loans.

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Income Limits

You must have a household income under the limit set by the USDA for the area where you want to buy a home. Check your income eligibilitywith the USDA.

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Debt-To-Income Ratio ≤ 41%

You will need a Debt-To-Income ratio of no more than 41%.

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The property must be in an eligible rural area with standard access to utilities, and road access. It must also be move-in ready.

Loan Benefits

No Prepayment Penalty

This is a fee charged by some lenders when you pay off your home loan within a period of years specified in your mortgage contract. Mortgages guaranteed by the USDA aren’t allowed to charge prepayment penalties.

No Down Payment

With the USDA loan, there’s usually no down payment.

Ability to finance closing costs

The USDA has lenient guidelines that allow you to finance any closing costscustomary for your area and the type of loan you’re getting into your new USDA mortgage.

Competitive Interest Rates

Relative to other mortgage options, USDA loans offer competitive interest rates.

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"We are loyal to Derek Parent and his team"

Derek is always a pleasure to work with. I’ve known him for several years now and anyone that I know of that is looking to purchase a property I always refer them to Derek. He takes the time to answer questions and really cares about his clients. It’s nice that he stayed in touch with us long after we’ve purchased our properties going through him and his team.

— highrisecondoinvestor from Las Vegas, NV 89109

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