USDA Loans
The U.S. Department of Agriculture offers loans to help low- and moderate-income buyers purchase, repair, or renovate a home in eligible rural and suburban areas. Programs include the single-family direct loan, the single-family guaranteed loan, and rural repair loans or grants.
Terms vary, but these loans generally offer low effective interest rates and may require no cash down payment. A reasonable credit history is needed to qualify.
USDA Loan Characteristics
USDA-backed; helps low- to moderate-income borrowers in eligible rural and suburban areas
Often little to no down payment for qualified buyers
Typically lower interest rates than conventional mortgages
Requires an upfront guarantee fee and an annual fee
Household income limits apply
The home must meet property eligibility standards for location and condition
For primary residences only; no investment properties or vacation homes
A strong option for first-time buyers or those with limited savings in eligible areas
5) Conventional loans offer options for fixed or adjustable interest rates
6) Conventional loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums
7) Conventional loans do not require mortgage insurance if the borrower puts down at least 20% of the purchase price
8) Conventional loans offer options for refinancing, including cash-out refinancing and rate-and-term refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
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This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2026 NEXA Mortgage, LLC NMLS#1660690. AZBK #2006218. 5559 S Sossaman Rd Bldg #1 Ste #101 Mesa, AZ 85212, 602-344-9333. www.NEXALending.com NEXA Mortgage, LLC is an Equal Housing Lender | Equal Housing Opportunity. All rights reserved.