USDA Loans - Popular home loan option for qualifying rural communities.

No Down Payment

Qualifying borrowers can get up to 100% financing for their rural dream home. You can even finance your upfront Private Mortgage Insurance (PMI). The upfront PMI charge is 1% of the loan and is required, but the USDA allows borrowers to roll the cost into the loan.

Flexible credit guidelines

Approving borrowers with a short credit history is often difficult because there isn’t enough history. With this loan program, though, lenders can accept alternate documents. These documents include rent, utility payments, and other long-term payments to establish history.

Lower Monthly Private Mortgage Insurance

Monthly PMI costs are lower with this loan option. If you choose to not place a down payment, then you will most likely need to pay PMI monthly. As of now, the USDA offers the lowest PMI rate of any loan program and the price doesn’t change based on your down payment.