USDA Purchase Program

Single Family Housing Guaranteed Loan Program

just-rightThe USDA Purchase Program is a great way for families or individuals to purchase their own home who otherwise would not be able to purchase a home.  This program helps bridge the affordability gap for homeownership. Below are a few facts about USDA loans that should help determine if the USDA Purchase program is your best option.


  • Utilizes locally approved lenders.
  • Reduces borrower’s monthly mortgage payments because of lower costs associated with the loan.
  • Guaranteed loans up to 102% of appraised value.
  • 30 year term for guaranteed loans.
  • No down payment required.
  • No Private Mortgage Insurance (PMI)
    is required.


  • Applicants cannot exceed the moderate income level
    (115% of the median income) for county.
  • Nonmetropolitan areas of 25,000 or less.


No Down Payment

USDA offers 100% financing allowing you to hang onto your money.

Zero Out of Pocket

USDA allows you to work your closing cost into the sales price making it possible in many situations to purchase a home without any out of pocket expense.

No Mortgage Insurance

With a USDA loan you will never be required to pay mortgage insurance making your monthly house payment much lower than other high loan to value loans.

Property Improvements

For situations when the appraised value is higher than the negotiated sales price you may be able to make needed improvements as long as the improvement costs do not exceed the difference between the sales price and the appraised value.

Property Restrictions:

The USDA offers financing for eligible rural properties. To determine if a particular property is eligible, visit USDA Rural Development Property Eligibility

Income Restrictions

USDA loans are designed to help individuals and families with a low to moderate income levels. To determine the maximum allowable income level for a particular area, visit USDA Rural Development Housing Eligibility

To determine if your income and desired future home location qualify for this program Contact Us today and one of our experienced Mortgage Professionals will gladly assist you.