USDA Loans

UDSA loans provide affordable financing options for properties located in designated rural and some suburban communities.
We offer: 
  • No processing or underwriting fees
  • Up to $500 credit towards closing1 for Farm Bureau Members 

Apply Now: USDA Loans Contact a Loan Consultant: USDA Loans

Features and Eligibility:

  • Down payment as low as 0%
  • Broad qualification requirements
  • Lower interest rates
  • No prepayment penalty
  • Allows broader range of income, debt, and credit history than conventional mortgages
  • Requires guarantee fee 1% of the initial loan amount at closing, and 0.35% of the average annual unpaid balance each year
  • May use gift funds for closing costs
  • Only available to purchase a primary residence
  • Property eligibility based on property size, location, and condition, and most fall in a USDA designated rural area
  • Borrower must meet USDA's income eligibility limit (income cannot exceed 115% of the area's median household income)

Who Should Use a USDA Loan?

USDA loans are guaranteed by the United States Department of Agriculture (USDA) to provide affordable financing options for homes located in designated rural and some suburban communities. Borrowers who have less-than-optimal credit or limited funds available for a down payment might consider a USDA loan. Borrowers must meet income eligibility (cannot exceed 115% of media household income of that area) and be a U.S. Citizen, non-citizen national or Qualified Alien. The property must be located in a USDA designated rural area to qualify.

Special Offer
Farm Bureau Members receive up to $500 towards closing1, plus no processing or underwriting fees
USDA loans product image

Existing USDA loan holders can refinance to get a lower interest rate or better terms.2

  • Only USDA loans are eligible 
  • No appraisal
  • No income verification  
  • Less paperwork and faster than typical refinance
Need help with a down payment?

Our dedicated loan consultants may be able to help you find down payment assistance programs, where they are available.

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1 This offer must be mentioned at time of application, which extends a credit of up to $500 applied at the time of closing. Offer excludes the “One-Time Construction” loan product. Borrower is responsible for closing costs incurred if the loan does not close and/or is not funded by Farm Bureau Mortgage, LLC. A borrower may not use this offer to obtain a refund for closing costs in the event that a loan fails to close or fund. This offer cannot be used with any other discount or promotion. This offer applies to mortgage applications and is subject to change without notice.

2 By refinancing the existing loan, the total finance charges may be higher over the life of the loan. 

Farm Bureau, FB, and the FB National Logo are registered service marks owned by and used by Farm Bureau Mortgage under license from the American Farm Bureau Federation. Farm Bureau Mortgage is a service-to-member institution which provides mortgage services to Farm Bureau members and others in participating states. See Affiliated Business Arrangement Disclosure for more details.

NMLS ID 2122423. Visit Licensing or NMLS Consumer Access for details.