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USDA Rural Development

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USDA Rural Development Highlights:

  • 100% financing
  • No Down Payment
  • Owner Occupied Residences
  • Flexible Credit Guidelines
  • Competitive Fixed Interest Rates
  • Not Limited to First Time Homebuyers
  • Purchase or Refinance of Existing Guaranteed Loan
  • Closing Costs can be rolled into Loan with higher Appraised Value
  • Expanded Ratios - 29% / 41%
  • No Reserve Requirement

Subject Property Eligibility:

Homes must be located in an eligible area.  To determine Property Eligibility, click on the following link:
http://eligibility.sc.egov.usda.gov/eligibility/.  Then make your selection at the left for Single Family Housing.


Borrower(s) Income Eligibility:

To determine if borrower(s)/household income meets program guidelines, click the following link:
http://eligibility.sc.egov.usda.gov/eligibility/.  Select Income Eligibility on left, then select the state and county.


Acceptable Credit History:

Borrower(s) credit history should reflect a willingness to meet financial obligations.
Minimal credit history will require additional documentation and is not considered as derogatory.
Public records and/or collections do not automatically negate a borrower from a USDA loan - additional documentation will be required.

Is the USDA loan right for you? This link offers some guidance

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