No down payment required!

What is a Rural Development loan?

USDA (RD) mortgages are government backed loans. The loan is funded or originated by the lender but has a guarantee from the US Department of Agriculture Rural Development (USDA RD). Because of this guarantee, there is less risk to the lender, therefore allowing relaxed credit and bankruptcy guidelines and low to no down payment options. RD loans are only available in certain rural, less-populous areas.

USDA Rural Development offers 100% financing for qualified borrowers to purchase or build a single-family home, repair their current home, or refinance their existing RD loan in designated rural areas. That means no money down!

You don’t have to be a first-time home buyer, but you do need to meet certain income guidelines (you cannot exceed 115% of your local median household income) and the property must be your primary residence in an area designated as rural by the USDA.

  • Purchase with 100% financing up to Appraised Value
  • Seller Concessions up to 6% allowed
  • 30-year fixed term only
  • Minimum credit score of 580
  • Offers The Least Expensive Mortgage Insurance