USDA Home Loans

What is a USDA Loan?

A USDA loan is special type of mortgage that has a zero down payment and is eligible for homebuyers in rural and suburban areas. These loans have to go through the USDA Loan Program. This program is backed by the United States Department of Agriculture (USDA).

The USDA backs a variety of loans to help low- or moderate-income people buy, repair or renovate a home in a rural area. For eligible buyers, they feature great benefits such as 100% financing with no down payment and below-market mortgage rates.

There are several types of USDA home loans: The single family direct homeownership loan, the single family guaranteed homeownership loan, the rural repair and rehabilitation loan or grant and the mutual self-help loan. Though the terms and details of these loans differ, all of these USDA loans offer very low effective interest rates (some are as low as 1 percent) and don’t require a cash down payment.

For any questions regarding USDA loans, or any other type of home loan, please call or email Jeff Dulla at 312-520-0069 or