Home Financing Options For Applicants
Are you ready to own a home but are not sure you will qualify due to lack of a down payment?
Rural Development may be able to help you! USDA Rural Development has partnered with local lenders to help them extend 100% financing opportunities to rural individuals and families.
No down payment required - 100% Financing Available
No monthly mortgage insurance - you may qualify for a larger loan.
Flexible credit and qualifying guidelines.
The Rural Development guaranteed loan program has assisted thousands of customers just like you. Tell your mortgage lender you want the USDA Rural Development Guaranteed Housing Loan.
No maximum purchase price limit.
Closing costs can come from any source including gifts.
Repairs and improvements can be included in the loan.
Competitive fixed 30-year rates.
Frequently asked questions
Occupy the property as your primary residence.
Do not own an adequate home.
Be a U.S. citizen, a U.S. non-citizen national or a “qualified alien”.
Provide stable and dependable income for repayment ability.
Have a credit history that indicates a willingness to meet obligations as they become due.
Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.
Purchase a residential property that is located in a Rural Development eligible area.
Choose Rural Development as the first option
30 year fixed rates
Generous income limits
Flexible credit guidelines
NOT limited to first time homebuyers
Assistance options, such as gift funds, grants, seller concessions allowed.
Tools and Web Site links:
Determine if the property is within the Rural Development eligible area.
Use the link "Single Family Housing" under "Property Eligibility".
Determine if your adjusted household income is within the Agency limits,
Use the link "single family housing" under "income eligibility"
What is "adjusted household income"?
What is "repayment income"?
Useful web links
Brochure and guides:
Guaranteed Loan brochure
A “quick guide” overview to Guaranteed Loans
For additional information contact your local Rural Development office.
Locate a Rural Development office.
Apply directly with Joe Wagner by calling 612-327-4544. Additional information can be obtained from Rural Development.
The Rural Development Office Locator website is: http://offices.sc.egov.usda.gov/locator/app?state=us&agency=rd
In the telephone directory blue pages under “United States Department of Agriculture”, and then look for “Rural Development” or “Rural Housing Service.
How do you get started?
Educate yourself on the Guaranteed Loan Program by reviewing all of the information on this site and the "eligibility" web site.
Set up an appointment with Joe Wagner by calling 612-327-4544 your pre-approval determination.
Still have questions about USDA-RD Loans? Call Joe Wagner at 612-327-4544. It's his job to answer lending questions, so he is happy to help! We know you're busy, so feel free to complete the form below to be contacted by Joe Wagner.
Do you have a question regarding a mortgage program?