What is USDA Loan?
A USDA loan is a mortgage backed by the U.S. Department of Agriculture, designed for low- to moderate-income borrowers purchasing homes in eligible rural areas, often with no down payment.
A USDA loan is a mortgage guaranteed by the U.S. Department of Agriculture and issued by approved lenders. It is intended for low- to moderate-income borrowers buying homes in designated rural areas. Borrowers often choose it because it may require no down payment and offers competitive interest rates. Watch for income limits that vary by location and household size, property eligibility maps that change, and a guarantee fee that may be financed or paid upfront plus an annual fee. The home must be your primary residence and meet certain property standards. Confirm the property address is eligible before proceeding.
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