Read all about USDA Loans here:

Welcome to the USDA Income and Property Eligibility Site

This site is used to evaluate the likelihood that a potential applicant would be eligible

for program assistance. In order to be eligible for many USDA loans, household

income must meet certain guidelines. Also, the home to be purchased must be

located in an eligible rural area as defined by USDA.

To learn more about USDA home loan programs and how to apply for a USDA loan,

click on one of the USDA Loan program links above and then select the Loan

Program Basics link for the selected program.

To determine if a property is located in an eligible rural area, click on one of the

USDA Loan program links above and then select the Property Eligibility Program

link. When you select a Rural Development program, you will be directed to the

appropriate property eligibility screen for the Rural Development loan program you

selected.

To assess potential eligibility of an applicant/household, click on one of the Single

Family Housing Program links above and then select the applicable link.

For additional information and to contact a USDA Program Representative, click on

the Contact Us link above, and then select the appropriate USDA program.

Single Family Home Loan GuaranteesWhat does this program do?This no

downpayment, 100% financing program assists approved lenders in providing low-

and moderate-income households the opportunity to own adequate, modest, decent,

safe and sanitary dwellings as their primary residence in eligible rural areas.

Eligible applicants may purchase existing homes (which may include costs to rehabilitate,

improve or relocate the dwelling) or build new.

USDA provides a loan note guarantee to approved lenders, encouraging participation by

minimizing their risk.

This program is NOT restricted to first-time homebuyers.

Who may apply for this program?

Applicants must:• Have a household income that does not exceed 115% of

median household income.*•

Agree to occupy the dwelling as their primary

residence.•

Be a U.S. citizen,

U.S. non-citizen national,

or Qualified Alien.•

Be unable to obtain conventional financing with no private mortgage insurance (PMI).•

Not be suspended or debarred from participation in federal programs.

What properties are eligible?

• Must be located within an eligible rural area.*

• Must be a single-family dwelling (may include detached, attached, PUD, condo, modular, and

manufactured).

• Must meet HUD 4000.1 minimum standards.

• No set maximum

purchase price (based solely on applicant repayment ability).

• No set acreage limits.

Must be common for the area.

• No seasoning requirements (“flipped” properties allowed).

What are applicant qualifications?

• Income. Non-Self-Employed:One-year history required.Self-Employed and Seasonal:

Two-year history required.

• Assets. No downpayment or reserves required.

• Credit. Must demonstrate a willingness and ability to repay debts.

No set score requirement.

Alternative credit allowable for those with no traditional credit.

• Monthly housing payment. Total payment (principal, interest, taxes, insurance,

HOA dues, RD annual fee) typically should not exceed 29% of gross monthly income.

• All monthly debt payments. All payments included on credit report, including

proposed new mortgage payment, typically should not exceed 41% of gross monthly income

.Student loan payments. Fixed payment: use actual payment or 1% of loan balance.

Non-fixed payment (IBR, graduated, adjusted, etc.) plans: Use 0.5% of loan balance.

• Seller (or interested party) contributions. Not to exceed 6% of sales price.

• Gift funds. No limit.