What Is A USDA Loan?

Get Pre-Qualified

USDA home loans, also known as Rural Development loans, are mortgages that are guaranteed by the U.S. Department of Agriculture. Their purpose is to promote home ownership in defined rural areas. So if you are interested in buying a house out in the country, a USDA loan may be right for you. However, not everyone qualifies so please read the USDA loan requirements below. If you have any questions, give us a call or open up a chat. One of our mortgage experts will gladly explain the ins & outs of USDA loans. AmeriSave offers competitively low USDA interest rates with no loan origination fees. See if you pre-qualify for a USDA loan in just a few minutes!

Key Benefits of USDA Loans

No down payment required in most cases.
Low monthly mortgage insurance (PMI).
Typically lower interest rates than other loan types.
Flexible credit guidelines.
AmeriSave can extend up to 100% financing to eligible rural individuals and families for the purchase of primary residences.
Easy streamline refinancing option.

USDA Loan Requirements

Minimum credit score of 640 is preferred. However, scores from 600-639 may be allowed if our automated underwriting determines creditworthiness.
Income cannot exceed 115% of your area’s median household income. This program is designed for low to moderate income households.
Property must be located in an eligible rural area as defined by the USDA – Check Eligibility
Property must be your primary residence and cannot be income producing.
The USDA program is designed for those who do not own other properties.

Questions About USDA Loans? Ask a Mortgage Expert.

Rate Quote Apply Now USDA Refinance

In a sea of online lenders AmeriSave stands out. Our experience speaks for itself.

19+

Years Experience

States Licensed

$103+

Billion Funded

390,000+

Homes Financed

AmeriSave Mortgage Corporation, NMLS ID #1168, (www.nmlsconsumeraccess.org); Corporate Office: 3525 Piedmont Rd NE, 8 Piedmont Center - Suite 600, Atlanta, GA 30305. Additional licensing information may be found by clicking here on this "Licensing" link. For questions regarding state licensing, please contact (866) 970-7283. Not all products and options are available in all states. It does not originate mortgages for properties in NY. Terms are subject to change without notice. Some people portrayed are professional models.