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A USDA (United States Department of Agriculture) mortgage loan, also known as a USDA Rural Development Loan, is a type of home loan designed to encourage homeownership in rural and suburban areas. These loans are backed by the USDA and offer benefits to low- to moderate-income borrowers who meet certain eligibility criteria. USDA loans can be an excellent option for eligible borrowers looking to purchase a home in rural or suburban areas. However, it's essential to understand the eligibility requirements and property restrictions associated with these loans.
No Down Payment
One of the primary benefits of USDA loans is that they typically do not require a down payment. Eligible borrowers can finance 100% of the home's purchase price without the need for a down payment, making homeownership more accessible.
Income Eligibility
USDA loans are intended to assist low- to moderate-income borrowers, so there are income limits based on the area's median income. Borrowers must meet these income limits to qualify for a USDA loan.
Geographic Eligibility
USDA loans are specifically targeted for rural and suburban areas designated by the USDA. These areas are typically outside major metropolitan areas, but specific eligibility can vary based on population density and other factors.
Mortgage Insurance
USDA loans require borrowers to pay for mortgage insurance premiums (MIP), similar to FHA loans. However, USDA mortgage insurance rates are typically lower than those for FHA loans.
Loan Limits
USDA loan limits vary by location and are based on the median home prices in each area. However, unlike FHA and VA loans, USDA loans do not have a maximum loan amount.
*4Ever Lending USA LLC is not affiliated with or sponsored by the U.S. Department of Veterans
Affairs, United States Department of Agriculture, or the Federal Housing Administration.

NMLS #2051275
• www.nmlsconsumeraccess.org

• Licensed by:
o District of Columbia Department of Insurance, Securities & Banking #MLB 2051275
o Florida Office of Financial Regulation #MBR4894
o Maryland Office of Financial Regulation #2051275
o Virginia Bureau of Financial Institutions #MC-7155
• 4Ever Lending USA LLC arranges loans with third-party providers, does not make any mortgage loan commitments or fund any mortgage loans.
• For informational purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval.

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