A USDA loan, also called a Rural Development Loan, is the most affordable home loan for a select group of qualified borrowers seeking to buy a home in an eligible rural area. Backed by the federal government, a USDA loan qualifies buyers to put no money down and receive 100% financing; plus, all closing costs are paid for by either the seller or financed into the loan.
Benefits of a USDA loan
Who is Eligible for a USDA Loan?
There are 4 factors when qualifying borrowers for USDA loans: