Loan Program
USDA Loan in Texas
A loan for homes in eligible rural and some suburban areas.
What is a USDA loan?
A USDA loan comes through the U.S. Department of Agriculture, for homes in eligible rural and some suburban areas. Who's eligible depends on where the home is, your household income and your situation.
Who looks at a USDA loan
- Buyers in eligible rural or suburban areas
- Buyers within the income limits
Where a USDA loan can help
- May offer a no-down-payment option for eligible borrowers
- Government-backed
The steps, in order
A first conversation, then a review of your goals and finances, then comparing loans. After that come a secure application, your documents, underwriting, and final approval and closing. No approval is implied before underwriting.
- 1.A first conversation
- 2.A review of your goals and finances
- 3.Comparing loans
- 4.A secure application
- 5.Your documents
- 6.Underwriting
- 7.Final approval and closing
What to weigh with a USDA loan
- The home must be in an eligible area
- Income limits apply
- A guarantee fee may apply
What a lender reviews for a USDA loan
- Where the home is
- Household income limits
- Credit and income review
Property rules for a USDA loan
- • USDA area eligibility
- • Condition standards for the home
Documents for a USDA loan
- Proof of income for everyone in the household
- Bank and asset statements
- ID
The down payment on a USDA loan
Mortgage insurance on a USDA loan
Questions to ask Bert about a USDA loan
- Does my situation fit this kind of loan?
- What documents will I need?
- What costs should I plan for besides the down payment?
- Is the area I'm looking at USDA-eligible?
Talk it through with Bert
Program availability and eligibility vary. Ask Bert whether this loan fits your situation.
Schedule a CallImportant
This is educational information, not a commitment to lend or a guarantee of eligibility. Eligibility, pricing, rates, and terms depend on the borrower and transaction. A licensed mortgage professional must review your complete scenario.