USDA Loans

White with red trim Rural Home - Home Loan

Our USDA Rural Purchase Home Loan program is for buyers who want to buy their home in smaller Oregon towns and communities usually with a population of 35,000 or less. This is the easiest loan program to purchase homes in smaller towns. We can verify, if the town and your home, will qualify for this loan. Call us before you start to search, to get pre-qualified for your USDA home loan.

Typical Loan Features – USDA Loans

  • 100% financing on fixed 30 year term supported by an appraisal
  • Eligible for 100% closing costs gift
  • Some minor home renovations can be financed in addition to purchase price
  • Federally insured against default
  • Low and moderate incomes can qualify
  • No down payment required
  • Competitive interest rates
  • No prepayment penalties
  • Not limited to first time home buyer
  • Up to 6% of lender fees and closing costs may be conceded by the seller
  • No private mortgage insurance required

Typical Loan Requirements – USDA Loans

  • Oregon home must be located in town of no more than 35,000 people
  • Must be primary residence
  • Income limits apply based on the number of occupants
  • Minimum 640 FICO credit score
  • Minimum debt to income ratio of 41%