How To Apply For USDA Home Loan


The USDA (United States Department of Agriculture) Rural Development Branch offers low-interest home loans to low-income families. You will only qualify for this low of an interest rate if you are very low income. Another requirement is that the house or property needs to be “rural.”

It doesn’t necessarily mean that you need to live in the village. Maybe a city with 30,000 populations and 30 minutes from the larger city is fine. One of other requirement is the homes are required to be no more than 10 years old. USDA home loan also finance land/home packages with manufactured homes and land up to five acres, this just for the new one. The officer will also complete an inspection of the home and property for you to make sure that the property meet the requirement.

This is the steps to qualify yourself for a USDA Home Loan:

Go to the USDA income and property eligibility site. There you can see if the home or property you want to buy qualifies as “rural,” and if you are belong to their income limitations.

After you are sure that you meet income and location are eligible, go to the USDA site and find the nearest local office. After that You should contact their office and ask for “pre-qualify.” The office will send you pre-qualification forms, if They think You meet the requirement You will be forwarded to a loan application.

When filling out your forms, keep in mind that you can count child support and food stamps as part of your income. After filling the form, usually there is a waiting list, so don’t procrastinate with your application!

After application process, The next steps is pretty much like any other home loan. The USDA loan officer that you are working with will guide you on the process. You will need to provide certain proofs of income and they require you to pay down your debt sometime.

Once you are officially qualified for a loan, you can find home or property. The USDA-RD will fund loans up to five acres and manufactured home packages. For manufactured homes it has to be brand new, so you can’t buy existing home/land. For the home, It can’t be more than 10 years old.

So Let’s take action, get your USDA loan now, also if You’re interested in agriculture You may consider to read some of the info about agriculture in agriculture guide. Actually USDA Home Loan is mainly focused for the development of agriculture in the United States.