Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
- A USDA Rural Development Guaranteed Housing Loan is for low-to-moderate income borrowers who buy a home in rural or suburban parts of the US.
- USDA loans don’t require any down payment, but you’ll need at least a 640 credit score and a debt-to-income ratio of 41% or less.
- Your home may qualify for a USDA loan if it’s in a county with 20,000 or fewer residents, or 35,000 in some areas.
- Lenders charge lower interest rates on USDA loans than on most home loans, but you can only get a fixed-rate mortgage, not an adjustable-rate mortgage.
- Policygenius can help you compare homeowner’s insurance policies to find the right coverage for