The United States Department of Agriculture (USDA) Loan* assists families in mid to low income households with the opportunity to own decent, sanitary, and safe homes in eligible rural areas. This loan allows homebuyers to build new homes, improve existing homes or relocate to a home in a rural area. A USDA Loan also provides a 90% loan note guarantee to approved lenders like us, and requires 0% down along with the chance to use closing cost gift funds.
- Property must be located in a USDA designated rural area
- Maximum loan limits vary based on location
- Closing costs can be included in the loan amount, if the appraisal is higher than the sales price
- No reserves required
*USDA Guaranteed Rural Housing loans subject to USDA-specific requirements and applicable state income and property limits. CMG Home Loans is not affiliated with any government agencies. These materials are not from USDA or RD and were not approved by USDA or RD or any other government agency.
*Hypothetical monthly mortgage payments reflect hypothetical Principal & Interest amounts rounded to the nearest dollar amount and do not include insurance, taxes, or other possible fees. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer.