Purchase

I Want to Buy a Home.

Buying a home can be one of the most important purchases of your life.  Most common loan programs require the borrower to make a down payment.  For many, coming up with a down payment can be difficult.

The USDA Rural Development home loan program allows home buyers with eligible income and credit to purchase a primary residence without putting any money down towards the sales price of the home.   In some cases, the borrower can also include closing costs into the loan.

No, you do not need to buy a farm or live in a unpopulated area to be eligible for the USDA Rural Development  program. There are eligible and ineligible areas defined by the program, but you may be surprised what USDA calls “rural” and can include many popular towns and cities that many homebuyers prefer.  The good news is that the USDA loan is widely-available.  97 percent of the geographic United States is in USDA loan-eligible territory.

Through this program, those who want to buy a home in what the USDA refers to as a “rural area” can reap the benefits of zero money down, 100% financing and access to highly competitive mortgage rates.

 To see if a USDA Loan may be right for you, contact a USDA  loan specialist to discuss the pros and cons of this loan type.

Am I Eligible?

The property to be purchased must meet specific guidelines to qualify for a RD mortgage:

USDA Home Loans are intended for families interested in purchasing single family, stick built homes. Investment properties, homes that are considered income producing properties, and mobile homes are not eligible for USDA financing. A USDA loan is a perfect loan for a home that is considered ‘move in ready’ and not in need of major repairs.

The other factor to determine eligibility would be the location of the home. USDA Home Loans are available to people who live in rural and suburban communities. Generally speaking, Rural Development defines a rural area as a city, or community of residence USDA has set household income limits that need to be checked to determine eligibility. To view a detailed list of each state with county limits visit our USDA Home Loan information by state page.

Get Qualified More Information

Rural Development

news & info

  • Special Procedure Notice from USDA sets Higher Income Limits for Oklahoma USDA Borrowers 06/08/2022

    The USDA Rural Development income limits for all of Oklahoma have been increased to $103,500 for a 1-4 person household and $136,600 for 5+ household. This is an all-time high which will allow much higher purchase prices for those using the program to purchase a home with ... READ MORE

  • USDA Rural Development Fiscal Year 2022 SFH Guaranteed Funds Now Available! 10/14/2021

    Fiscal Year 2022 funding for the USDA Rural Development’s Single-Family Housing Guaranteed Loan Program is now available. Oklahoma borrowers can continue to take advantage of no down payment financing on homes located in USDA Rural Development areas. Click here to ... READ MORE
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