100% financing in designated rural areas
Buying in a rural area?
If you’re looking for a home in a USDA-designated rural area, you’ll want to check out the USDA loan and its 100% financing feature.
The USDA AdvantageAdvantage Mortgage’s USDA Home Loan Program provides 102% of the financing for the purchase price and guarantee fee, for low/moderate income homebuyers wanting to buy a home in a rural development area. USDA Home Loans are affordable and backed by the federal government. Qualified program participants must purchase a home in an eligible rural area (as defined by the U.S. Department of Agriculture) and have a household income that does not exceed the established limits where the home is located.
Loan Amounts up to:
Credit Scores as low as:
Minimum Down Payment:
Types of USDA Loans
- USDA Purchase Loan
- USDA Refinance Loan
- USDA Rehab Loan
- USDA Construction-to-Permanent Financing
USDA Features & Qualification
- 2% USDA guarantee fee may be included in financing
- No down payment required
- Competitive interest rates
- Lender fees and closing costs (including prepaid funds) may be contributed by the seller or may be eligible to include in the loan, depending on the appraised value
- Gifts or grants permitted from family, friends and non-profit agencies
Who can benefit?
- Homebuyers looking to purchase a property in a USDA-designated rural area—including single-family homes, new construction, modular homes, and condominiums
- People without a lot of money saved for a down payment
- People with credit scores above 640
- Homebuyers with income that does not exceed the USDA’s income limits for the area
- Homeowners wanting to refinance their existing USDA loan
Is USDA right for you?
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Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates and conditions are subject to change without notice. Some products and services may not be available in all states.