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USDA Home Loan Program

Effective as of October 1, 2015, Envoy Mortgage’s USDA Home Loan Program provides financing (the purchase price and guarantee fee) for low- to moderate-income homebuyers wanting to buy a home in a rural development area. USDA Home Loans are very affordable and backed by the federal government. Qualified program participants must purchase a home in an eligible rural area, as defined by the U.S. Department of Agriculture, and have a household income that does not exceed the established limits where the home is located.

What are the benefits of a USDA Home Loan?

USDA Home Loans offer the following features:

  • 2.75% guarantee fee may be included in financing.No First Time Buyer Requirements
  • No down payment required.
  • No Mortgage Insurance but there is a .50 Annual Guarantee Fee included in payment.
  • Competitive interest rates.
  • Lender fees and closing costs (including prepaid funds) may be contributed by the seller.
  • Gifts or grants permitted from family, friends, and non-profit agencies.
  • No cash reserves or minimum investment required.

Who may benefit from a USDA Home Loan?

Both first-time and experienced homebuyers may take advantage of a USDA Home Loan, provided they meet the following qualifications:

  • Income limits cannot exceed the USDA’s Rural Development Single Family Housing Guaranteed Loan Program income limits for the area.
  • Must have a minimum credit score of 640 (660 if you have a prior short sale) and maximum debt-to-income ratio of 41%.
  • Credit history with no more than one “30-day late” payment in past 12 months and no major credit problems in previous 36 months.
  • Eligible properties include existing single-family homes, new construction, modular homes, planned unit developments (PUDs), and eligible condominiums.
  • Borrowers may not have excess savings or other assets exceeding program limits unless those assets are from an inheritance or other acceptable source.

For More Information:

Contact Doug Bullwinkel today to see if a USDA Home Loan is the right solution for you. We take pride in delivering value and savings to homebuyers in our country’s rural populations. It would be a pleasure to help. Visit the USDA Rural Development website ( for additional information to determine eligibility for specific properties as well as the borrower’s income limits per county.

Envoy Mortgage and Doug Bullwinkel are not endorsed by or affiliated with any government agency.