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What is a USDA Loan?
A USDA loan is backed by the United States Department of Agriculture (USDA) and is designed to help people living in rural and suburban areas buy or refinance homes. A USDA loan is a great option for borrowers with low to moderate income or limited funds for down payments.
Key Features of USDA Loans
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No down payment required
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Lower interest rates
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Minimum cash needed to close
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Easier qualification
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Not limited to first-time homebuyers
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Available for purchase and refinance
Who Can Benefit From A USDA Loan?
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First-time homebuyers
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Repeat homebuyers
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Homebuyers with low to moderate income
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People who have a limited ability to make a large down payment
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