USDA Home Loans 

Ben D.

"I really appreciated that Ascend Mortgage uses data-driven statistics to show me the options available to me as a purchaser, and the competitive rates in my market. It really made me feel like I have control over my future."


Kait Engler

"Highly recommend Sean for your mortgage needs. Very knowledgeable and helpful! As a first time homebuyer, Sean helped answer all of our questions!"


Andrew Cooper

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USDA Home Loan

A USDA home loan is a no down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture.

The USDA home loan program helps over 100,000 families purchase and upgrade their homes in a typical year. The program is designed to help Americans in suburban and rural areas. It offers low interest rates and no down payments, and can be flexible with less than perfect credit.

How the USDA loan guarantee program works

Loan guarantees

The USDA guarantees a mortgage issued by an approved lender, similar to government backed FHA and VA loans — allowing you to get low mortgage rates, even without a down payment. With the USDA program, you will pay a mortgage insurance premium.

Qualifying for a USDA-backed mortgage

The USDA program has income limits to qualify for a home loan guarantee. The limits vary by location and depend on the number of people who make up your household.
USDA guaranteed home loans are only for owner-occupied primary residences.
Other rules of the program include:
U.S. Citizenship
or permanent residency
A monthly payment
A monthly payment — including principal, interest, insurance and taxes — that’s 29% or less of your monthly income. Other monthly debt payments you make cannot exceed 41% of your income, including the housing payment. The USDA will consider higher debt ratios if you have a FICO score above 680
Stable Income
Your income should be stable, typically for a minimum of 24 months. (exceptions may be made due to Covid-19)
Acceptable credit report
You should have an acceptable credit report, with no accounts submitted to collections for non payment within the last 12 months. If you can prove that your credit was affected by circumstances that were temporary or outside of your control, including Covid-19 or a medical emergency, you may still qualify.
Underwriting is easier if you have a 640 FICO score, or higher. Below a 640, you must meet more restrictive underwriting standards.

Get preapproved for your home loan

Eligible home locations

Metropolitan areas are generally excluded from USDA programs, but may be available in certain suburbs. Rural locations are always eligible.

Next steps

To apply for a USDA-backed loan, APPLY NOW, or call 248-775-1275.