USDA Loan Info

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 USDA loans are popular with first-time homebuyers and families who want to buy sooner without saving for a large down payment, especially in growing suburban or semi-rural communities. 

 A USDA Loan (officially the USDA Rural Development Home Loan) is a government-backed mortgage designed to help low- to moderate-income buyers purchase homes in eligible rural and suburban areas—often with no money down.

• $0 down payment 🚫💰
   
• Lower interest rates than many conventional loans
   
• Reduced mortgage insurance compared to FHA loans
   
• Fixed-rate mortgages (typically 30-year terms)
   
• Backed by the U.S. Department of Agriculture, which lowers lender risk
   

To be eligible, borrowers generally must:

• Buy a home in a USDA-eligible area (many suburbs qualify, not just farmland)
   
• Meet income limits (usually up to ~115% of the area median income)
   
• Have a reasonable credit history (often 640+ is ideal, but some lenders allow lower)
   
• Use the home as a primary residence
   

• Single-family homes
   
• Townhomes
   
• Condos (if USDA-approved)
   
• New construction or existing homes