USDA Loan

United States Department of Agriculture or USDA Loans, are a stand-alone program as the only “zero money down” program available to borrowers that have not served in the military. Typically, the property in question has to be located within an eligible rural area to qualify, but there are oftentimes exceptions within more urban settings. Some of the benefits of a USDA loan are:


  • No money down required; 100% financing available!


  • Potential for low- and moderate-income families to experience homeownership


  • More forgiving of imperfect credit


Due to the specific guidelines and criteria involved, it is important to work with a lender that has experience dealing with USDA government financing to determine if this is the right fit for you.

Do I Qualify for A USDA Loan?

As with many financial loan programs there are specific qualifications that must be met by a homebuyer. A few of these qualifications are:


  • You must be a U.S. citizen or a permanent resident looking for a home in a qualifying area, such as any rural area and a few select suburban areas.


  • Your loan payment must not exceed 29% of your monthly income. All other debt payments must not exceed 41% of your income.


  • Dependable income, usually for a period of at least 24 months


  • Good credit history, with no collections within the past year.

Additionally, USDA loans are only issued to prospective homebuyers that have the “greatest need.” According to the USDA, this means you:


  • Are without “decent, safe & sanitary housing”


  • Are unable to secure a traditional home loan from a bank


  • Have an adjusted income that is either at or below the low-income area for the area where you live

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Rate Lock Guarantee

Rate lock guarantee protects you from an increase in interest rates during the loan process.

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Ready to Mortgage Smartly™?

At RHMC, we’re dedicated to helping all of our customers find housing and get mortgages at great rates. If you’d like to explore the USDA loan program in further detail, we’re here to help.


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