USDA Loans
We don’t currently offer USDA loans. Like USDA loans, there are other loan types that can be a good choice for qualifying borrowers looking for 0% down.
- Minimum FICO® Score 640
- No down payment
- Backed by the USDA
- Eligible rural & suburban areas
USDA Loans at a Glance
We don’t currently offer USDA loans
Like USDA loans, there are other loan types that can be a good choice for qualifying borrowers looking for 0% down.
Who are USDA loans best for?
USDA loans, also known as rural development loans, help make owning a home more affordable for those living in eligible rural and suburban areas and with household incomes within the USDA limits.
How Do USDA Loans Work?
USDA loans are backed by the U.S. Department of Agriculture, making them more accessible than other loan options. You can get a USDA loan as a 30-year fixed-rate mortgage. If you already have a USDA loan, you can refinance it into a new USDA loan; however, you can't refinance with a USDA loan if you currently have a different loan type.
What are the Qualifications for a USDA Loan?
To qualify for a USDA loan, you’ll need:
- A minimum FICO ® Score of 640.
- An eligible property – the home you want to buy or refinance must be in an eligible rural or suburban area. Find out if your property is eligible.
- A household income is under the limit set by the USDA for the area where you want to buy a home. Check your income eligibility with the USDA.
USDA Loan Benefits
- You can qualify with a credit score as low as 640.
- USDA loans require no down payment, unlike FHA and conventional loans
- The USDA monthly guarantee fee is lower than the FHA monthly mortgage insurance, in most cases, and you may be able to roll these fees into your loan.
- You may be able to roll your closing costs into your loan.
- If you already have a USDA loan, you can refinance it into a new USDA loan.
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USDA · No Down Payment
USDA Property Requirements
- The home must be your primary home, not a vacation home or income property.
- The property can't be a working farm.
- Your home appraisal must show the condition of the home meets USDA standards, including:
- The water, electrical, heating, and cooling systems must be up to date and functional.
- The foundation and house need to be structurally sound.
- The property must be accessible from a paved or all-weather road.
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Eligible · Primary Residence Only
USDA Loan Questions
Does TAG offer USDA loans?
We don’t currently offer USDA loans. Like USDA loans, there are other loan types that can be a good choice for qualifying borrowers looking for 0% down.
How do I know if a property is eligible?
The home you want to buy or refinance must be in an eligible rural or suburban area. Find out if your property is eligible.
Is there an income limit?
Your household income must be under the limit set by the USDA for the area where you want to buy a home. Check your income eligibility with the USDA.
Can I refinance into a USDA loan?
If you already have a USDA loan, you can refinance it into a new USDA loan; however, you can't refinance with a USDA loan if you currently have a different loan type.
Start your application now!
Prefer to talk? Call (305) 503-8655 or message us on WhatsApp.
Programs subject to change without notice. Restrictions apply. All loans subject to credit approval and underwriting guidelines. TAG Lending Group, LLC · NMLS #2329372. This is not a commitment to lend.
Equal Housing Lender.