Rooftop of a house


USDA Loans offer “no money down” financing

A USDA (United States Department of Agriculture) loan is a government loan program from the Department of Agriculture in partnership with HomeTrust Bank. This program helps us work with low- and moderate-income families in rural areas to make home ownership possible. USDA loans support HomeTrust Bank’s commitment to supporting community and improving quality of life in our rural areas.

Also known as a Rural Housing Loan, this program allows qualified buyers to purchase a home with no money down. All closing costs may be paid by the seller or be financed into the loan. Our mortgage experts can explain the pros and cons of these fixed-rate loans to help you determine if this is your best loan option.

USDA loan basics:

  • Helps approved lenders provide low- to moderate-income households buy their own home in eligible rural areas. Generally these are areas with a population of less than 35,000.
  • The government guarantees 90% of the loan note to approved lenders such as HomeTrust Bank.

To meet USDA eligibility requirements, you must meet income eligibility parameters and make sure the home is your primary residence. Applicants must also demonstrate ability to meet credit obligations, have legal capacity to incur the loan, and be eligible to participant in federal programs. You must also be a US citizen, non-citizen national or qualified alien.

USDA loan funds may be used in many ways. Some of those include:

  • Purchasing a new or existing residential property to be used as your permanent home.
  • Refinancing an existing USDA loan.

Let our mortgage experts help you get pre-approved for USDA now!