Improved Benefits for USDA Home Loans

Purchases - No Down Payment Required

Purchase a home in eligible rural areas with financing up to 100% loan-to-value (LTV) available on qualified properties.

USDA Streamline Refinance with No Closing Costs

Payment reduction program lowers mortgage insurance with minimal documentation and NO Closing Costs, and potentially lower interest rate.

Lower Up Front Fees and Mortgage Insurance

Rate reduced to 1.00% for up-front guarantee fee at origination, and mortgage insurance reduced from 0.50% to 0.35% of the unpaid principal balance.

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Additional Benefits

  • No preset maximum loan limit
  • No preset minimum FICO requirement
  • No prepayment penalties
  • Forbearance/assistance options


USDA Streamline Refinance

Borrowers with current USDA loans are eligible to refinance and lower your mortgage insurance rate, and potentially lower your interest rate at the same time.


  • 1.00% up-front guarantee fee at origination*
  • 0.35% annual MIP for life of loan, regardless of LTV*
  • Borrower must currently be without adequate housing
  • Subject property must be “modest” & must be classified as being in a “rural” area by USDA
  • Subject property must be primary residence
  • Maximum income requirements (by county)
  • No bankruptcies, foreclosures, short sales, or deeds-in-lieu in the preceding 3 years

*Fees reflect changes that went into effect October 1, 2016.

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In The News - 10/1/16, USDA Slashes Fees on Loans

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USDA Single-Family Housing Loan Guarantee Program

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