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USDA Loans

Buyers Choice Lending

USDA Loans

What does this program do?
The Section 502 Guaranteed Loan Program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers - so no money down for those who qualify!

Who may apply for this program?
Applicants must:

Meet income-eligibility (cannot exceed 115% of median household income)
Agree to personally occupy the dwelling as their primary residence
Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien

What is an eligible rural area?
Utilizing this USDA's Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.

Why does Rural Development do this?
This program helps lenders work with low- and moderate-income households living in rural areas to make homeownership a reality. Providing affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas. FHA has financing for mobile homes and factory-built housing. We have two loan products - one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.

USDA Loans are great for a lower or no up-front down payment
Available within qualified rural areas (see map to see if you qualify) for eligible residents.

Take an Easy First Step. See How Much You Could Qualify For

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