USDA Rural Development Overview

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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 8,300 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
  • 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)
  • Minimum credit score of 620

USDA Recognition for GMFS Mortgage:

You can also visit the USDA Income and Property Eligibility Site
1. Select Program type of “Single Family Housing Guaranteed” in left navigation
2. Accept Disclaimer
3. Use links on the USDA site to determine property eligibility, income limits, income eligibility and more for your state




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