Talk with us to see if a USDA loan is right for you.

Unable to make a down payment? You may be eligible for a USDA home loan.  
Contact Michelle Boughan at 419.645.3109 to see if a USDA loan is the right choice for you!

What are the benefits of a USDA Loan?   
The USDA loan program can bridge many of the obstacles you may face with a conventional home loan. The three major benefits are:

  • Low rates – USDA loan rates are comparable to conventional loan rates
  • No down payment required –Most USDA borrowers do not need to make a down payment. However, most are required to make a 1% investment at closing (can be included in the loan amount). 
  • No Private Mortgage Insurance (PMI) - Conventional loan borrowers who are unable to meet the lender’s down payment requirements typically must buy expensive PMI. 

USDA Home Loan Credit Requirements
TopMark has a minimum credit score requirement of 660.  Talk with a TopMark loan officer to determine if your credit score meets the requirements for a USDA loan.

USDA Home Loan Income Eligibility 
To be eligible for a USDA loan, you’ll need to meet three basic income criteria.

  • Your family income typically must be low to moderate, as defined by the USDA. 
  • Your family income meets the parameters necessary for your level of debt
  • Your source of income is dependable

USDA Loan Property Requirements
To be eligible for a USDA loan, your property must meet certain requirements.

  • It must be your primary residence
  • It is in a rural area, which the USDA defines as having a population under 35,000. There are a few select suburban areas that meet the USDA criteria.
  • Income-producing properties and vacation homes do not qualify.
  • A USDA-approved appraiser must appraise the property