0% Down
One of the few fixed rate loan options available with no down payment required.
Is USDA right for you?!
Not just for farms.
Many homes qualify, putting your dream of home ownership within reach! You don't even have to live in the boondocks.
USDA offers a great way to get into a new home with no down payment and minimal PMI* required.
*Good catch! USDA does not have mortgage insurance, but it does have an annual fee that is applied monthly to the payment. For most, it's easy to explain as a PMI.
What makes USDA great for you
Low Credit Options
USDA is a great option for imperfect credit scores.
More Homes Qualify
Yes- non farmers can apply! Rural and rural adjacent are eligible, even some suburbs on the outskirts of a metro. The USDA gets to define "rural" and over 90% of US land qualifies!
Competitive FIXED Rates
USDA consistently offers some of the lowest rates in the market. Your rates are locked in keeping your monthly payment consistent for life of loan.
Finance Your Closing Costs
That's right! You can even finance your closing costs if the total loan amount doesn't exceed the appraised value of the property.
Low and Moderate Income Families Are Eligible
Flexible requirements put home ownership within reach! USDA loans can be used on existing homes, new construction, and foreclosures.
Who is eligible?
The USDA loan option is typically available to applicants who meet credit requirements and local area income requirements. Applicants must also be purchasing a home in an area that is not considered a major metropolitan area by USDA. Or refinancing their existing USDA mortgage.
Common Misconceptions
You don't even have to grow a garden to qualify for a USDA loan. Small family homes on a normal size lot within city limits can qualify too.
See the areas in Iowa eligible for USDA loan.
(Yellow = ineligible areas)
Get a personalized review.
There are many great benefits of a USDA loan, it might be the mortgage option that best meets your needs. We can take a look at your unique situation to give you a personalized review.
Let us know you're interested by filling out the form below.
We are not the US Department of Agriculture. If you wish to contact them, you may do by visiting their site at www.usda.gov.
Specific underwriting requirements apply, inquire to verify your specific eligibility.