USDA Loans
USDA loans are government-issued loans specifically for those in rural areas, small communities, and select suburban areas just outside major metropolitan areas. Borrow up to 100% of the home's appraised value with zero down payment required.
Introduction to USDA Loans
How USDA zero-down financing works in plain English.
What Is a USDA Loan?
USDA loans are loans issued by the government specifically for those in rural areas, small communities, and some areas just outside major metropolitan areas. With a USDA loan, the family can borrow up to 100% of the home's appraisal, meaning no down payment is needed.
The loan is set for a 30-year fixed rate home loan, and requires no monthly mortgage insurance. A USDA loan is a great way for borrowers in rural areas or smaller towns to buy a house.
USDA Eligibility Guidelines
To be eligible for a USDA loan, you must occupy the home as your primary residence and meet the income guidelines. These vary by area, total number of people in your household, and credit history.
To learn the guidelines for your desired area, please contact us at 651-315-7681 or email Jay Dacey at Jay@JayDacey.com!
Check Your USDA Eligibility
Call the Jay Dacey Team at 651-315-7681 to check your eligibility for a USDA loan.
Purchase
Buy a home in an eligible rural or suburban community with zero down payment.
- Zero Down Payment: USDA loans require 0% down — finance up to 100% of the home's appraised value.
- No Monthly Mortgage Insurance: There is an upfront fee paid to the Department of Agriculture as well as an annual fee, but there is no monthly mortgage insurance.
- 30-Year Fixed Loans: Stable, predictable monthly payments locked in for the life of the loan.
- Eligible Area Requirement: You must purchase property within an eligible area. Check out the interactive map on the USDA's website or call our office at 651-315-7681.
Refinance
Refinance your existing USDA loan to lock in a lower interest rate or reduce monthly payments.
- Multiple Refinance Options: USDA offers several refinance options, including a standard refinance and a streamline refinance.
- Streamline Refinance: Streamlined paperwork and reduced underwriting for existing USDA borrowers looking to reduce their rate.
- Income Guidelines: Borrowers must continue to meet the income guidelines specific to their area and family size.
- Local Guidance: If you're interested in a USDA refinance, reach out to us for more information on your specific area.
Why Borrowers Choose USDA Loans
Finance up to 100% of the appraised value without saving thousands for a down payment.
Modest upfront and annual guarantee fees keep your monthly payments lower than conventional with PMI.
Competitive government-backed interest rates with steady payments that never change.
What Documents Will I Need?
Be prepared to provide standard mortgage documentation including:
Frequently Asked Questions
Common questions about USDA loans and eligibility.
Ready to Check Your USDA Loan Eligibility?
Call the Jay Dacey Team at 651-315-7681 or complete our quick 60-second home buying quiz to see which programs fit your situation.
Direct access to Jay Dacey (NMLS #375033) • Jay Dacey Mortgage Team, Inc. (NMLS #1812066)
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