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USDA Rural Home Loans

What is a USDA Rural Home Loan?

It’s a great way for rural homeowners to get up to 100% financing — and several other benefits — on a new home! Whether you’re looking to buy, build, repair, renovate, or even relocate a home, a USDA rural home loan from CrossCountry Mortgage, Inc. can help you make your homeownership dreams come true.

What Are The Benefits?

A USDA rural home loan from CrossCountry Mortgage, Inc. provides many benefits:

  • You may qualify for up to 100% financing. The loan amount may not exceed 100% of the appraised value.
  • No down payment is required.
  • Your interest rate will be fixed, keeping your monthly payments consistent throughout the loan term.
  • Closing costs can be paid by the seller or included in the loan.
  • The program is not limited to first-time homebuyers.
  • There is no maximum purchase price, though qualifying ratios and income will determine eligibility.

What Are The Eligibility Requirements?

To qualify for a USDA rural home loan, you must meet certain criteria as defined by the USDA:

  • Applicants for loans may have an income of up to 115% of the median income for an area.
  • In addition to area median income requirements, you must meet the income restrictions for your respective county.
  • You must already be without adequate housing but be able to afford your mortgage payments, including insurance and taxes.
  • You must have a reasonable credit history.
  • Loans have a 30-year term.

Finding An Eligible Home

In addition to the personal eligibility requirements, the home you’re looking to finance must be located in a designated USDA rural area and be one of the following:

  • An existing home
  • New construction
  • A modular home
  • Planned unit development (PUD)
  • An eligible condominium
  • A new manufactured home

Certain home repairs and improvements may be included in the loan. Investment properties are not eligible.

Ready To Take The Next Step?


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