USDA Loan
USDA loans are backed by the United States Department of Agriculture and are designed to help low-to-moderate income families purchase homes in eligible rural and suburban areas. Many areas across Texas qualify.
Key Benefits
No down payment — 100% financing available for eligible borrowers and properties.
Below-market rates — USDA loans offer some of the lowest interest rates available.
Low mortgage insurance — The guarantee fee and annual fee are significantly lower than FHA mortgage insurance premiums.
Eligibility
Property must be in a USDA-eligible area (many suburbs around major Texas cities qualify). Household income must not exceed 115% of the area median income. The home must be a primary residence.