USDA Rural Home Loans

A USDA guaranteed home loan is designed to assist low-to-moderate income homebuyers in designated rural communities. The program was created in 1991 in an effort to boost homeownership in rural areas and offer incentives to relocate.

  • 100% financing

  • No loan limits

  • One-time 1.00% upfront Guarantee Fee, .35% monthly Guarantee Fee - if appraised value exceeds sales pricing, Guarantee Fee may be financed.

  • No down payment required

  • Up to 6% for Seller Contributions

  • Maximum loan amount up to 102.75% of the appraised value

  • No monthly mortgage insurance

  • 620 minimum FICO score

  • Household income considered, not just borrower on note - must meet USDA's income guidelines.

  • Borrowers may not own other property

  • Eligible properties

    • Single-family, condominiums, and townhomes (must be agency approved)

    • No “income-producing” properties, i.e. farms

  • For property & income eligibility go to www.eligibility.sc.egov.usda.gov/eligibility

USDA loans are available for purchase or refinance. We offer a standard USDA Refinance.