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United States Department of Agriculture (USDA) Home Loans

These loans provide low- and moderate-income households the opportunity to own their own homes in eligible rural areas. They are designed to improve the economy and quality of life in rural America.

What are the income requirements?

Income limits to qualify for a USDA home loan guarantee vary by location and depend on household size. To find the loan guarantee income limit for the county where you live, consult this USDA map and table.

Other requirements are:

  • U.S. citizenship
  • A monthly payment that’s 29% or less of your monthly income
  • Dependable income for a minimum of 24 months
  • Acceptable credit history
Highlights of a USDA Home Loan
  • Use a USDA home loan to purchase an owner-occupied single-family residence, planned unit development or USDA eligible condo in a wide range of non-metropolitan areas, including many suburbs. Contact a loan officer in your state or click here to see if your property qualifies.
  • No down payment is required up to the appraised value and county maximum loan limit is not exceeded. Applicants must have a minimum 620 credit score (conditions apply).
  • Lower than market interest rate, because these loans are backed by the government, borrowers are offered low, flat rates.
  • Flexible Credit Guidelines allows those with blemished or limited credit histories to qualify for home financing.
  • Eligibility for a USDA home loan is based on income and property location.
USDA Sample Scenario
Sales Price $145,000
Loan Term 30 Year Fixed Rate
Down Payment -----
Loan Amount $146,464
Interest Rate 4.125%
APR 4.852%
Mortgage Insurance $42.29
Est. Monthly Payment $981.80

 

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Other home loan options may better suit your needs. Talk to a Certainty Home Loans mortgage professional to discuss which home loan option best suits your needs.

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