<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=1955936548054264&amp;ev=PageView&amp;noscript=1">
Get Started! Call 888-562-6200
 

What Is a USDA Home Loan?

< Back to Articles | Time to Read: 5 minutes

A USDA loan is special type of a zero down payment mortgage that eligible home buyers in rural and suburban areas can get through the USDA Loan Program, which is backed by the United States Department of Agriculture (USDA). It’s one of the government’s least-known mortgage assistance programs available.

The main type of USDA home loan program is called a USDA Guarantee Loan. These loans work like how an FHA or VA home loan would in terms of low or no down payment. Keep in mind, you may be required to pay private mortgage insurance each month. A USDA-approved lender, like Churchill, issues this type of loan.

Who can apply?

Applicants for a USDA Home Loan must*:

  • Meet income eligibility
  • Agree to personally occupy the dwelling as their primary residence
  • Be a U.S. citizen, U.S. non-citizen national or qualified alien
  • Have the legal capacity to incur the loan obligation
  • Have not been suspended or debarred from participation in federal programs
  • Demonstrate the willingness to meet credit obligations in a timely manner
  • Purchase a property that meets all program criteria
How do you know if a USDA loan works for you?

If you live (or are looking for a home) in a metropolitan area, a USDA loan is not for you. There are some suburbs that have USDA loan opportunities, but most of these loans are for homes in rural areas. This doesn’t mean you have to live on a farm by any means or be a farmer. It does mean that you have to meet specific income and location requirements.

If you’re interested in applying for a USDA-backed home loan, reach out to one of our Home Loan Specialists.

Information about this loan program may be subject to change. Consult with your Home Loan Specialist or contact your local USDA Service Center for information about this loan program. 

Source: *https://www.usdaloans.com/program/

Are you buying a home or refinancing?

Where are you planning to buy a home?

Please Select a State

What is your full name?

Please Enter a Name
Please Enter a Last Name

What is your email address?

Please Enter a Valid Email Address
  We won't share your information.

Next, we need to verify a phone number.

Enter a Valid Phone Number
Please Select a Message Type

Enter your phone number and we'll text you a 6-digit security code to verify it's you. Standard texting and data rates may apply. For more information, read our Privacy Policy.

Enter the 6-digit code sent to your device.

 Code sent to +1234567890

Finally, how did you hear about us?

Please Select an Option

By submitting this form, I/we agree to your Privacy Policy Terms of Use and authorize Churchill Mortgage Corporation and/or their Preferred Provider for our area and/or The Churchill Agency to receive the above information to assist in obtaining a home loan.

I/we also authorize Churchill Mortgage Corporation, The Churchill Agency and/or their Preferred Provider for our area to contact us regarding but not limited to mortgage and insurance services and products via telephone, mobile phone (including through automated dialing), and/or email, even if telephone numbers or email I/we provide are on any Do Not Call/Contact Registry, such as corporate, state, or the National Do Not Call Registry. The submission of this form does not constitute in any way a formal loan application or a commitment for a loan. By communicating with us by phone, you consent to calls being recorded and monitored. By participating, you consent to receive text messages sent by an automatic telephone dialing system. Consent to these terms is not a condition of purchase.

Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents to you in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal government agencies. U.S. Department of Housing and Urban Development (HUD) at (800)569-4287 or www.hud.gov/counseling

Es probable que su transacción de préstamo hipotecario suceda en inglés. Por medio de esta pregunta, solicitamos información para determinar si existen comunicaciones disponibles a su servicio, en su idioma preferido. Sírvase tener en cuenta: posiblemente NO hay comunicaciones disponibles en su idioma preferido.

Thank You!

Thank you for choosing Churchill Mortgage to help you with your home loan needs!

Our team is already hard at work connecting you with your Home Loan Specialist. Rest assured that we've received your request and will be in touch with you shortly.

social proof logos

Already working with someone at Churchill?

Find Your Home Loan Specialist

Please Select a Loan Officer