Loan Programs  |  05

USDA Loans

Zero down for eligible areas. No tractor required.

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The quick version

How it works

USDA home loans are backed by the U.S. Department of Agriculture's Rural Development program to help moderate-income households buy homes outside major metro areas. Eligible buyers can finance with no down payment, and the program carries lower guarantee fees than many other low-down options. Two things decide eligibility: the property has to be in a USDA-eligible area, and your household income has to fall within the limit for that county. Here's the part people miss: plenty of small towns and suburban neighborhoods qualify. You don't need to buy a farm.

Highlights

No down payment

For eligible buyers in eligible areas.

Suburban areas qualify

It's not just farmland.

Low guarantee fees

Often lower than other low-down options.

Primary homes only

Built for people who'll live in the home.

FAQ

Questions people actually ask

Tap a question to see the answer.

1Do I have to buy a farm or live in the country?+
No. Many small towns and suburban areas are eligible. USDA publishes an eligibility map, and we can check any address for you.
2What are the income limits?+
Household income has to be at or below the limit for the county, which is based on area median income and household size. It counts everyone in the household, not just the borrowers.
3Is there a down payment?+
USDA allows eligible buyers to finance with no down payment. You'll still have closing costs, though seller credits and gifts can help.
4What fees come with a USDA loan?+
There's an upfront guarantee fee, which can be financed into the loan, and an annual fee paid monthly. They're often lower than FHA mortgage insurance.
5Can I use a USDA loan for an investment property?+
No. USDA loans are only for primary residences.
6How do I know if a home is in an eligible area?+
Send us the address and we'll check the USDA map. Eligibility maps are updated from time to time, so we always verify the current status.
7How long does a USDA loan take to close?+
USDA loans need an extra review step, so they can take a little longer than conventional loans. Starting early and getting documents in fast keeps things moving.
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This information is general and educational. It is not a commitment to lend. Program guidelines vary by lender, change over time, and are subject to credit approval and underwriting.

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Plano Mortgage Broker

Mohave Mortgage

5830 Granite Pkwy # 100-213

Plano Texas, 75024

Office: (469) 414-5554

Branch NMLS # 2690682

Mohave Mortgage

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