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100% Financing with USDA-Rural Development Guaranteed Loans

With a Guaranteed Rural Housing mortgage loan, you will be able to purchase your dream home and not break the bank financing it!  With a variety of loan features and benefits available – including up to 100% financing, a Rural Housing mortgage loan may be the perfect mortgage product for you.

Here’s more information about our Rural Housing loan program and how it works:

  • A 30 Year fixed rate mortgage loan for a 1-unit primary residence
  • Up to 100% LTV (loan-to-value) allowed, based on the appraised value, not the sales price. So if you are purchasing a home for $100,000, but it appraises for $103,000, you can finance up to $3,000 of your closing costs!
  • The seller can pay up to 6% of your closing costs
  • No minimum cash contribution from the borrower is required
  • No Monthly Mortgage Insurance, but there is a 3.5% guarantee fee that can be added to the loan.
  • No payment reserves from the borrower are required

Homes must be located in rural areas.  Rural areas include open country and places with a population of 10,000 or less and-under certain conditions-towns and cities with between 10,000 and 25,000 residents.  See the rural area eligibility site at http://eligibility.sc.egov.usda.gov, click on “property eligibility”.

Borrower’s adjusted annual income is capped, depending on the family size and the county that the property is located.  To see if your income qualifies, refer to the chart below or go to http://eligibility.sc.egove.usda.gov, click on “income eligibility”

County 1-4 Person 5-8 Person
MSA: Austin-Round Rock, San Marcos TX $84,900 $112,050
MSA: Brazoria County, TX $84,400 $111,400
MSA: Dallas, TX $78,550 $103,700
MSA: Fort Worth-Arlington, TX $77,500 $102,300
Hartley County, TX $77,850 $102,750
Houston-Baytown-Sugar Land, TX $74,900 $  98,850
Kendall County, TX $86,250 $113,850
Loving County, TX $78,350 $103,400
All Other Counties in Texas $74,050 $  97,750