USDA Loan FAQs

A USDA loan is a type of government-backed loan offered by the U.S. Department of Agriculture (USDA) to encourage homebuyers to live in rural and suburban areas by making land and property more affordable.

A USDA Loan is right for you if you are looking for a home in a rural area with a lower down payment.

  • Minimal down payment
  • Closing costs as part of the loan amount
  • Government-backed loan
  • Loan funds may be used to purchase and repair a home
  • Lower payments than a traditional mortgage loan
  • No maximum purchase price
  • No monthly mortgage insurance