Straight answers about USDA home loans.
Start with the essentials, then confirm your situation with official USDA resources and an approved lender.
Do USDA loans require a down payment?
Qualified Guaranteed loan borrowers may be eligible for up to 100% financing. Inspections, appraisal, earnest money, closing costs, prepaid items and fees still must be addressed.
Is a USDA loan only for farms?
No. USDA single-family housing programs are for eligible primary residences in qualifying areas. Agricultural income is not required.
What credit score is needed?
There is no responsible one-number answer for every lender and file. Approved lenders follow USDA underwriting and may use overlays. Credit history, debts, income and underwriting findings matter.
What does “rural” mean?
USDA uses official geographic data. Eligible areas can include small towns and some places outside dense urban centers. Check the exact address.
Whose income counts?
Program eligibility can consider eligible income of household members, including some non-borrowers. The lender separately determines qualifying repayment income.
Can closing costs be included?
Some costs may be handled through permitted contributions, credits, gifts or financing subject to current rules and value. Ask for a transaction-specific estimate.
Is mortgage insurance required?
USDA Guaranteed loans use an upfront guarantee fee and an annual fee. Confirm current amounts and how they affect the loan.
Can repeat buyers qualify?
The Guaranteed program is not categorically limited to first-time buyers. Existing ownership and housing need can affect the review.
Can manufactured homes qualify?
Potentially, when construction, age, title, site, foundation and other program requirements are satisfied.
Does Agrow Capital approve loans?
No approval is made through this educational website. Final decisions belong to USDA and/or participating lenders.