USDA Rural Housing Finance Loans
These loans enable a borrower to purchase a home with no money down. You must meet certain income guidelines and the property must be located in an eligible Rural Housing zone.
In addition to no down payment, the USDA Rural Housing program allows for a 102% loan to help pay other closing expenses. There is also no requirement to purchase additional private mortgage insurance (PMI).
- Summary
- Homes must be located in rural areas
- Must be within household income limits
- No down payment
- Loans available up to 102% of appraised value or sale price
- Fixed rate mortgages
Learn more about income limits and USDA loan qualifications here.
