USDA Loans
$0 down for homes in eligible rural and small-town areas, for buyers who meet income limits.
Who This Fits
USDA loans are backed by the U.S. Department of Agriculture. They help buyers in eligible rural and small-town areas. Some areas in Middle Tennessee may qualify. You must live in the home, and your household income must be under the limit for your county.
Your Choices
- USDA Guaranteed loan: $0 down for a home you will live in, in an eligible area.
- 30-year fixed rate: a steady payment you can plan around.
Basic Requirements
These are general guidelines. Each lender has its own rules, and programs can change.
- Down payment: $0 down in eligible areas.
- Location: the home must be in an eligible area. You can check an address on the USDA eligibility map.
- Income limit: your total household income must be under the limit for the county.
- Fees: USDA loans have an upfront guarantee fee and an annual fee paid monthly.
- Main home only: no rentals or second homes.
How It Works
- Check the address: the home must be in an eligible area.
- Check income: your household must be under the limit for the county.
- Pre-approval: you learn your budget.
- Lender and USDA review: both look at the file.
- Close: you move in.
Questions People Ask
Is USDA only for farms?
No. It is for regular homes. The home just needs to be in an eligible area.
How do I know if a home qualifies?
Check the address on the USDA map, or send it to Mark and he will check it for you.
What if my income is too high for USDA?
Then a conventional or FHA loan may fit better. Mark can compare them.
Related
FHA Loans · First-Time Home Buyers · Gallatin area · All Calculators · Areas We Serve
All loans depend on credit, income, and property review. Not everyone will qualify. Programs can change. This is general information, not a loan offer. Mark Jost, NMLS #150914. Heathrow Mortgage, Company NMLS #1849599. Equal Housing Opportunity.