Loan program · Core
USDA Loans
The USDA Guaranteed Rural Housing program supports homeownership in designated rural and many outer suburban areas. Eligible buyers within the income limits for their household size and county may finance a primary residence with no down payment.
Who it is designed for
- Buyers purchasing in a USDA eligible area outside the denser suburbs
- Households within the USDA income limits for their county and household size
- Buyers with limited funds for a down payment
Eligible occupancy types
- Primary residence only
Down payment or equity
No down payment required for eligible properties and eligible household incomes.
Major benefits
- No down payment for eligible buyers
- Guarantee fee structure is often lower than comparable FHA mortgage insurance
- Works well in the outlying communities around Akron, Canton and Wooster
Important considerations
- Both the property location and your household income must qualify
- Household income includes adults in the home, not only borrowers
- Upfront and annual guarantee fees apply
- Primary residence only
How qualification generally works
- Property address checked against the USDA eligibility map
- Household income compared to the county limit for your household size
- Credit and debt to income review under USDA guidelines
- Standard appraisal and property condition review
Documents commonly requested
- Photo ID and Social Security number for each borrower
- Most recent pay stubs covering a full 30 day period, if you receive W2 wages
- W2s and/or federal tax returns for the most recent years requested
- Two months of asset statements for accounts used for down payment and reserves
- Current mortgage statement, homeowners insurance and property tax information on properties you own
- Explanations for large or non payroll deposits
Frequently Asked Questions
Related programs and next steps
FHA Loans
Government insured financing with flexible credit and down payment guidelines.
Learn more CoreConventional Loans
The most widely used financing for primary homes, second homes and rentals.
Learn more CoreVA Loans
A benefit earned through service, with no required down payment for eligible buyers.
Learn moreConsidering usda loans?
We will review your documents, compare the realistic options, and give you a written preapproval you can use with confidence. Nothing on this page is a commitment to lend.