USDA Home Loans
Make suburban or rural lands your home
Get 100% Financing
Your USDA home loan may cover up to 100% of the purchase price.
Enjoy Low Rates
Rates on USDA loans can be lower than conventional mortgages.
Live off the Land
The property you intend to purchase must be on USDA-eligible land.D
Qualify for a USDA home loan
Create an account in our online application platform. Here's what you'll need to apply for a US Department of Agriculture home loan.
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People often ask us
A USDA home loan is a special type of mortgage backed by the US Department of Agriculture. These mortgages are part of the USDA's Rural Development Guaranteed Housing Loan Program. With great interest rates and no down payment necessary, USDA loans make homeownership more affordable to people in rural areas who might not qualify for conventional mortgage loans.
Unlike most conventional mortgage loans, USDA home loans don't require a down payment. They do require mortgage insurance, but it differs from private mortgage insurance, or PMI, because it's capped at 1% of your loan amount and can be rolled into your loan. There's also an annual premium that's divided by 12 and added to your monthly payment.
To qualify for a USDA home loan, the house you're purchasing must be in an eligible rural area and your income needs to be below the eligibility cap for that area. Lenders will also consider your debt-to-income ratio, or DTI, and your credit score. Preferred borrowers will typically have a DTI under 43% and a credit score of 640 or above.
No. Homes purchased with USDA loans must be your primary residence, not a vacation or investment property. However, this doesn't mean you have to be a first-time homebuyer. Repeat buyers can also qualify for this unique mortgage program.
Normal credit approval applies.
Not applicable in all states.
To be eligible for the USDA home loan, you must be purchasing a property in a rural area (as defined by the USDA) and you must meet regional income restrictions.
Bank deposit products are offered by First Citizens Bank. Member FDIC and an Equal Housing Lender. icon: sys-ehl.