USDA Loans
Financing for a home in a USDA-eligible rural or suburban area, backed by the U.S. Department of Agriculture.
Rates are based on current market conditions. Ask a Waypoint lender for today’s numbers.
What a USDA Loan Is
A USDA loan is guaranteed by the U.S. Department of Agriculture under its rural housing program. It exists to make homeownership reachable in less densely populated areas, and in return it sets rules about where the property can be and how much the household can earn.
What You Should Know
Often No Down Payment
Eligible borrowers can frequently finance the full purchase price.
Property Must Qualify
The home has to sit in an area the USDA designates as eligible.
Household Income Limits
USDA sets a maximum household income, which varies by area and household size.
Guarantee Fee
USDA charges a guarantee fee, upfront and annually.
Primary Residence
USDA financing is for a home you will live in.
Check the Map First
Whether a property qualifies is the first thing to establish. We can check it with you.
Who a USDA Loan Suits
USDA works well for a buyer with modest savings looking at a property outside a built-up area. Because both the property and the household income have to qualify, it is worth checking eligibility before you fall in love with a house.
- The property is in a USDA-eligible area
- Household income is within the USDA limit for the area and household size
- You will occupy the home as your primary residence
Common Questions
The USDA publishes an eligibility map at eligibility.sc.egov.usda.gov. Check a specific address there, or ask a Waypoint lender to check it with you before you make an offer.
Yes. USDA sets a maximum household income that varies by area and household size, and it is reviewed each year.
Not necessarily. Many towns and outer suburbs fall inside USDA-eligible areas. Checking the map is the only reliable way to know.
Talk it through with someone who lends here.
Local decisions. No obligation.
A short conversation before you apply tells you what you can realistically borrow and what it will cost. Book a time at any Waypoint branch, or start online and we will pick it up from there.
Important Disclosures
Equal Housing Lender. NMLS #404962.