We’re Here to Guide You Through the USDA Loan Application Process
A USDA Loan — otherwise known as a Rural Development (RD) Loan — is an excellent option for those looking to settle in specific rural and suburban locations.
At DSLD Mortgage, our experienced Loan Officers will explain the advantages of this type of loan and guide you through the USDA Loan qualification process.
At DSLD Mortgage, we understand the unique aspirations and concerns that come with rural homeownership.
We aim to empower and guide every family on their journey to a dream home. Let’s take a look at the advantages provided by this type of loan:
A USDA Loan — or RD Loan — is a type of mortgage loan offered by the United States Department of Agriculture. It’s designed to help families in rural and some suburban areas purchase homes with no down payment, offering 100% financing to eligible buyers.
USDA Loans aim to promote homeownership in less densely populated communities and are an excellent option for those meeting the program’s income and location criteria.
Qualification for a USDA Loan is based on several factors, including income, credit score, and property location. Generally, applicants must:
To apply for a USDA Loan, applicants must meet specific requirements, including:
Income ceilings for the USDA loan program are determined by the location of the property and the size of your household. To qualify, you typically need to fall within the low-to-moderate income bracket when you make your USDA Loan application.
These limits can range from 80% to 115% of an area’s median household income, with variations based on factors like family size. The USDA loan is designed to cater to those who might find other loan options out of reach due to income constraints.
If you’re wondering whether you meet these criteria, request a callback and chat with us before you apply for a USDA Loan online. We’ll guide you through the specifics tailored to your situation.
Credit score requirements for USDA Loans can vary. While many lenders prefer a score of 640 or higher, the USDA Loan program is known for its flexibility. Even if your score is below this threshold, there are approval pathways, especially if other aspects of your financial profile are strong.
A robust credit score in the 720+ range can and will enhance your loan terms. If you’re uncertain about your credit standing or want to explore your options, talk to one of our Loan Officers for personalized guidance.
To qualify for a rural home development loan, a property must be situated in a USDA-designated rural area — typically open countryside and towns with populations under 35,000 residents.
The USDA Loan program aims to support homeownership in less densely populated areas, promoting community growth and development. Contact our team if you’ve set your sights on a property and are unsure if it meets these criteria. We’ll help verify if your dream home meets USDA Loan requirements.
The USDA Loan comes with a couple of primary fees: a 1% upfront guarantee fee due at closing and an annual 0.35% mortgage insurance fee, which is part of your monthly payment.
However, weighing these fees against the significant benefits of USDA Loans, such as competitive interest rates and the possibility of no down payment, is essential. If you have any questions about which loan type is best for you, one of our Loan Officers will be happy to help you.
At DSLD Mortgage, we’re not just about loans. We’re about turning your aspirations into reality. With unbeatable rates, minimal upfront costs, and support for various financial backgrounds, your path to a dream home is clearer than ever.
Don’t let anything hold you back. Tap into the world of opportunities with a USDA Loan application—where flexibility meets affordability.
We’re proud to make dreams of homeownership a reality for many people.
To read more about people we’ve helped with a USDA Loan, read our testimonials below:
"Sophia and Janna were amazing through this whole process. I would like to thank you ladies SO much for being so patient and making our dreams come true!"
"All of the staff over at DSLD made the entire process seamless from beginning to end. We could not recommend them more. We are extremely thankful for their help in acquiring our new home."
"Dana was an absolute dream to work with! We couldn't have been luckier for our file to come across her desk. Our entire loan process was made so easy. I felt informed, listened to, and like my questions and opinions really held weight. Thanks so much, Dana!"
"Sarah and DeNeice were amazing to work with. They made the process enjoyable. We really appreciate the DSLD staff for helping us purchase our forever home!"
"Honi was absolutely wonderful in the home buying process. She made this process so easy and fun. She was so helpful with all of our questions also. I can't thank her enough for allowing this process to be smooth sailing."
Dig into the intricacies of the mortgage landscape with our curated blogs. If you’d like to learn more about the process of getting a loan, our resources section is designed to help.
