usdaThe United States Department of Agriculture (USDA) loan is primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate, or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities. *The USDA Home Loan Program is not a true renovation loan. Ask for details.

Applicants for direct loans from HCFP must have very low or low incomes. Very low income is defined as below 50% of the area median income (AMI); low income is between 50-80%  of AMI; and moderate income is 80-100% of AMI. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance, which are typically 24% of an applicant’s income. Payment subsidy is available to applicants to enhance repayment ability. Applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories.

  • NO down payment requirement
  • Upfront Mortgage Insurance Premium (MIP) lower than typical FHA loans
  • Strictly 30-year fixed rate loans
  • Property must be in an approved rural area

If you don’t have the funds to put down cash on a home, USDA beats out conventional financing and puts you in the home of your dreams with minimal out-of-pocket cost!

Rural Development: Not What You Think


Rural Development Fact Sheet

USDA Eligibility Guidelines

FHA vs RD Loan Comparison

*Down payment and other terms shown are for informational purposes only, and are not intended as an advertisement or commitment to lend. Not all borrowers will qualify; please contact us for an exact quote and more information on fees and terms.