skip to Main Content

USDA Loans

Buy a home with 0% down and save on mortgage insurance with a USDA insured loan.



Key Benefits

USDA loans are an attractive option for buying a home in a qualifying rural area – especially if you’re a first-time home buyer. These are some of the benefits:

  • You can buy a home with no down payment
  • You can qualify with a credit score as low as 640
  • Your guarantee fees may be lower than FHA mortgage insurance premiums

How USDA Loans Work

USDA loans, also known as rural development loans, are backed by the U.S. Department of Agriculture and provide affordable mortgage options for homes in rural areas.

If you’re buying a home, you can get a USDA loan as a 30-year fixed-rate mortgage. If you already have a USDA loan, you can refinance it into a new USDA loan; however, you can’t refinance with a USDA loan if you currently have a different loan type.

USDA Loan Eligibility Requirements

To get a USDA loan, you must meet these qualifications:

Understanding the USDA Guarantee Fee

USDA loans require an upfront guarantee fee and an annual guarantee fee, similar to upfront mortgage insurance and monthly mortgage insurance for FHA loans. These guarantee fees are generally lower than mortgage insurance premiums for FHA.  They may save you money on your monthly mortgage payment.

Other Loan Options

There are other loan options available with low down payments and flexible credit requirements:

  • FHA Loan – Qualify with a credit score as low as 580 and a down payment as low as 3.5%.
  • VA Loan – Take advantage of exclusive benefits for active-duty military personnel, veterans and their families.
  • Adjustable Rate Mortgage (ARM) – Get the lowest mortgage rates available. ARMs are a great option if you plan to sell the home or refinance in the next few years.

Benefits of Getting Your Loan With Emmett Dempsey

  • Personalized service from one of Florida’s top rated lenders.
  • Balance of online tools and technology with a human client touch.
  • Clarity of mortgage options and financial benefits through a Mortgage Coach Total Cost Analysis.
  • Continued Annual Reviews of your mortgage and personal finances.


Back To Top
×Close search