USDA

USDA loans help homebuyers purchase homes in eligible rural and suburban areas with zero down payment. Backed by the U.S. Department of Agriculture, these loans offer low interest rates and reduced mortgage insurance costs, making homeownership more affordable for qualified buyers. USDA loans are designed for low-to-moderate income borrowers who meet specific income and property location requirements.

Unlike conventional loans, USDA loans provide 100% financing, meaning no down payment is required. They also feature lower mortgage insurance premiums compared to FHA loans, reducing overall monthly costs. Borrowers must meet income limits and purchase a home in an eligible rural or suburban area, as defined by the USDA. With flexible credit requirements and lower upfront costs, USDA loans make homeownership possible for more buyers in rural communities. If you’re looking for an affordable mortgage with zero down payment and low monthly costs, a USDA loan may be a great option.

So, which areas qualify as “rural”? As it turns out, over 90% of the US is eligible. Click here for an eligibility map for more details!

Disclaimer: Loan product guidelines are subject to change. Contact your Caritas Mortgage loan officer for the most up-to-date information.