USDA Rural Development Overview
USDA Rural Development is typically the best home loan option for first time buyers that are not military veterans, assuming the property is in an eligible rural area. USDA RD loans even offer 100 financing with no down payment. Continue reading below to learn more about USDA RD home loans, income limits & guidelines.
GMFS Mortgage has funded over 14,300 USDA Rural Development home loans!
Why does USDA Rural Development offer home loans?
This USDA program helps mortgage lenders work with low and moderate income families living in rural areas to make homeownership a reality. Per the USDA, providing affordable homeownership opportunities through the rural development (RD) home loan program promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas.
USDA RD Loan Features
- 100% financing (zero money down)
- Can be used to purchase your primary residence or refinance for rate term
- Expanded qualifying ratios and flexible credit guidelines
- Must be deemed eligible rural area by USDA (check USDA RD eligibility)
- Income limits based upon the number of people living in house, varies by geographical area
- Loan up to appraisal value to finance closing costs
- RD Guarantee fee of 1% (Financeable)
- USDA One Time Close Construction loans
Recognition for GMFS Mortgage:
- GMFS Ranked #1 Louisiana Lender for USDA Rural Development Loans 2025 (source)
- GMFS Ranked #1 Louisiana Lender for USDA Rural Development Loans 2024 (source)
- GMFS Ranked #1 Louisiana Lender for USDA Rural Development Loans 2023 (source)
- GMFS Ranked #1 Louisiana Lender and #11 nationwide for USDA Rural Development Loans 2022 (source)
- GMFS Mortgage Loan Officer ranked #3 in country and #1 in Louisiana for Rural Development originator
- GMFS Mortgage ranked top lender in #1 Louisiana and #5 in Alabama, #10 nationwide for USDA Rural Development Loans for 2020 (source)
- GMFS Mortgage ranked top lender in #1 Louisiana and #5 in Alabama for USDA Rural Development Loans for 2019
- GMFS Mortgage Loan Officer has been verified #1 Rural Development originator in U.S. for 2016 and 2017
- June 2018: GMFS Top 25 Producer – Arkansas for the period of 10/1/15 – 9/30/17
- Fiscal year 2017: [Results not released yet]
- Fiscal year 2016: GMFS #1 Lender – Louisiana
- June 2016: Charlene Richard of GMFS Named USDA Rural Development Underwriter of the Year
- Fiscal year 2015: GMFS #1 Lender – Louisiana
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What Sets Us Apart
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Since 1999, we’ve helped over 150,000 people across 23 states become homeowners.
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Experienced
Our team averages 14+ years in the industry—and a lifetime of showing up for our clients.
*Government loans such as FHA, USDA and VA typically have more flexible guidelines than conventional loans but interest rates are typically higher.
*Not a commitment to lend. All loans subject to credit and property approval. The following terms are for illustrative purposes only. Rates, payments, and loans terms vary by consumer based on their individual qualifying information. The payment amount illustrated does not include the amounts for taxes, property insurance, or mortgage insurance.
| Purchase Price | Loan Amount | Interest Rate | APR | Term |
|---|---|---|---|---|
| $239,000 | $227,050 | 6.5% | 6.725% | 30 |