USDA Loans

A USDA Home Loan is a mortgage loan offered to rural property owners by the United States Department of Agriculture (USDA). In order to be eligible, the home must be located in a rural area or “any area with a population of 35,000 or less”. Borrowers can use the USDA Property Eligibility Program to determine the eligibility of a certain property.

USDA loans have an income and asset cap, meaning that a borrower’s combined household income cannot exceed their threshold in order to qualify for the loan. However, new limits are set every year in the spring, capped around 15% above the average median income in the area.

Those that qualify can purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area.

In order to qualify for a USDA loan, household income must not exceed the USDA income limit and the home purchased must be located in an eligible rural area as defined by the USDA.

Talk to one of our professional experts to learn whether or not you qualify for a USDA Loan!