USDA Loans
Find the living space you need with lower upfront costs.
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Big Benefits When You Buy Out of Town
No Down Payment
Buyers who qualify for a USDA loan make no down payment on their home.
Flexible Credit Guidelines
Designed to help more buyers qualify with flexible credit and income guidelines.
Great Hometown Service
With years of expertise in local housing, we’re always ready to help.
30-Year Fixed-Rate Stability
Enjoy predictable monthly payments with a 30-year fixed-rate mortgage.
No Down Payment
Buyers who qualify for a USDA loan make no down payment on their home.
Flexible Credit Guidelines
Designed to help more buyers qualify with flexible credit and income guidelines.
Great Hometown Service
With years of expertise in local housing, we’re always ready to help.
30-Year Fixed-Rate Stability
Enjoy predictable monthly payments with a 30-year fixed-rate mortgage.
Why Apply for a USDA Loan?
USDA loans are backed by the U.S. Department of Agriculture. With no down payment, they’re designed to make it easier to afford a home in USDA-designated rural or suburban areas.
Here’s what you should know before you apply:
- No down payment required: With a USDA loan, qualifying applicants can access up to 100% financing of their home.
- Residency type: USDA mortgages are for primary residences in qualifying rural or suburban areas. USDA loans can be used for single-family residences as well as some condos, townhouses, and manufactured homes.
- Eligibility: USDA loan income limits apply. Limits vary depending on the area. Ask your TVFCU loan officer for more information about applicable limits.
- Loan terms: USDA home loans are offered as 30-year fixed-rate mortgages, giving you predictable payments over the life of your loan.
USDA Loan Rates
Complete the form to instantly get the most accurate and up-to-date USDA Loan rates at TVFCU. Our USDA Loan mortgage calculator will help you compare different loan options and visualize various scenarios to find the mortgage that fits you best.
Apply NowHow to Apply
Applying for a USDA loan is quick and easy. Just follow these steps!
- Step 1 - Get Pre-Qualified
Complete our convenient online application to get pre-qualified. With an estimate of your borrowing power in hand, you can shop for your new home with confidence. - Step 2 - TVFCU Review & USDA Review
Choose a property and agree on a purchase price. Our team will complete underwriting and formally approve your loan before submitting it to the USDA for final review and authorization.
Note: Because USDA loans require government review, processing times may be slightly longer than other loan types. - Step 3 - Final Authorization & Closing
After USDA authorization, you’ll sign your closing documents and receive the keys to your new home!
USDA Loan FAQs
USDA loans have specific eligibility requirements set by the U.S. Department of Agriculture. In addition to credit and debt-to-income guidelines, USDA loans have household income limits and require the home to be located in an eligible rural or suburban area.
All household income, including income from individuals who will live in the home but are not listed on the loan, must be considered when determining eligibility. A TVFCU loan officer can help you review your income and property eligibility to see if a USDA loan is the right fit.
You can be disqualified from applying for a USDA loan if:
- You want to buy a property that is not in a USDA-designated rural or suburban area
- Your income exceeds USDA mortgage loan limits for your family size and the applicable area
- You do not meet the USDA’s more flexible qualifications, including a lower credit score or a higher DTI ratio
A USDA loan can be a great option for eligible buyers. Interest rates are often comparable to — and sometimes lower than — other government-backed or conventional loan options, depending on market conditions and borrower qualifications.
A USDA loan may be a good fit if:
- You’re looking to buy a home in a qualifying rural or suburban area
- You want a loan option that does not require a down payment
- You meet USDA household income limits and property eligibility requirements
No, USDA loans do not require a down payment from qualified borrowers. USDA loans do charge up-front and annual guarantee fees instead of private mortgage insurance. These fees are usually rolled into your monthly mortgage payments.
It depends on your situation and where you live. FHA and USDA loans each have different qualification requirements. FHA loans do not have household income limits and require a small down payment, while USDA loans have income and property eligibility requirements but do not require a down payment for qualified borrowers.
A TVFCU loan officer can help you compare your options and determine which government-backed mortgage is the best fit for your financial goals.
At TVFCU, we have years of expertise as a USDA lender. We’re well-placed to meet you wherever you are on your homeownership journey, with great advice, a convenient loan application process, and close support throughout the mortgage approval process. Check out our handy USDA loan payment calculator to get an idea of your likely payments.
Unsure whether your area qualifies as a USDA-eligible area? We can provide access to a USDA mortgage loan map. Just contact us!
Calculate Your Rate and Monthly Payment
Embarking on a homeownership journey is a major milestone, and choosing the right mortgage is crucial. These calculators can quickly help you determine the loan type and amount that’s right for you.
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