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A USDA home loan is a zero-down payment mortgage for eligible rural and suburban homebuyers. These loans are issued through a private lender, such as a community bank, and guaranteed by the USDA Rural Development Guaranteed Housing Loan Program. This program helps lenders work with low and moderate-income families living in eligible rural areas become homeowners.

  • Available for single-family homes only
  •  Meet income and property eligibility
  • Must agree to occupy the dwelling as their primary residence
  • Minimum credit score for borrower must be 640+
  • Front end ratio is 29/back end 41
  • Must finance an upfront mortgage insurance premium (UFMIP) of 1.00% of total loan amount and pay monthly mortgage insurance (MMI) at a maximum of .35% of loan amount annually
  • Not been suspended or debarred from federal program participation
  • Demonstrate willingness to meet credit obligations

Requirements set by the U.S. Department of Agriculture include:
The USDA specifies that funds backed by loan guarantees must be used for:

  • New or existing residential property to be used as a permanent residence. Closing costs and reasonable/customary expenses associated with the purchase may be included in the transaction.
  • Sites with a new or existing dwelling
  • Refinancing of eligible loans
  • Must be an eligible property. To find out if a property qualifies for this loan, visit the USDA Eligibility Map.

To start the USDA mortgage application process, you can apply online, contact us, or visit your nearest branch location in Edmond, Guthrie OK, Kingfisher OK, Piedmont OK, Crescent OK, Yukon, OK, Greater Oklahoma City.