USDA Guaranteed Loans in Kentucky & Beyond
Aren’t sure if you can qualify for a home loan? Buy an existing home, have one built for you, or purchase a plot of land in rural Kentucky and build your dream—even if you’re credit-challenged and have a limited income. It’s all possible with the USDA Guaranteed Loan.
Is a USDA Guaranteed Loan Right For You?
Who It’s For
If you prefer the quiet rural life to the hustle and bustle of the city, then a United States Department of Agriculture (USDA) Guaranteed Loan is a great option. It’s designed for those with limited income and a lower credit score and can provide you with 100% financing for a home in an eligible rural area.
The Advantages
Low Interest Rates
Save money with a lower interest rate than what you would get with an FHA or conventional home loan.
No Down Payment
Buy a home with no down payment! Available for qualified homebuyers under the USDA loan.
Qualify with a Low Credit Score
Qualify for a USDA Guaranteed Loan, even if you have a less-than-perfect credit score.
Low Origination Fee
Pay a fee of just 2% of the total loan amount and roll it into your mortgage if you like.
Eligibility at a Glance
Do you:
- Have a credit score of at least 580?*
- Meet an income requirement that doesn’t exceed 115% of the median household income?
- Plan to occupy the home as your primary residence?
- Have U.S. citizenship, or are a U.S. non-citizen national or Qualified Alien?
Then you may be eligible for a USDA Guaranteed Loan! Learn more about eligibility requirements on the USDA website.
*Minimum credit score requirement may vary by investor.
Take Your First Step
Does a USDA Guaranteed Loan sound like a great fit for you and your family? Do you meet the eligibility requirements? Start your application today!
USDA GUARANTEED LOANS - FAQs
Yes. The program is open to all homebuyers, whether it’s your first time purchasing a home or not.
There is no maximum loan amount for a USDA loan. The amount you qualify for is based on your debts, income, and ability to repay, just like any other type of home loan.
No. Instead, you pay a one-time upfront USDA guarantee fee, which is 1% of the loan amount and can be rolled into your loan. There is also a smaller annual fee that’s added to your monthly payments as part of your financing.
You can visit the USDA website to check a home’s eligibility. Select the housing type at the top of the page, then type in the address and their search tool will tell you if it’s located in an eligible area.
The primary difference is who is funding the loan. With a USDA Guaranteed Loan, a private lender funds the loan and the USDA backs it against default. With a USDA Direct Loan, the USDA is the lender.
Helpful Tools
First-Time Home Buyers
Not sure where to begin? Follow our step-by-step guide and you’ll be in your new home in no time.
Calculators
How much home can you afford? Run the numbers with our handy loan calculators.
FAQs
Have questions about getting a loan? We’re happy to help! Get answers to the most common questions.
Words From Our Happy Homeowners
What We’re About
We’re a Kentucky mortgage lender that believes everyone deserves safe and affordable housing. Our overarching mission is to uplift communities throughout Central Appalachia and beyond, and we know that begins with ensuring everyone has a place to call home.
There’s a Loan for Everyone
USDA 502 Direct Loans
Do you have good credit but a limited income and want to live outside the city? Check out the USDA 502 Direct Loan.
USDA Guaranteed Loans
Are you interested in living in a rural area, and your income is moderate? Ask us about USDA-guaranteed loans.
FHA Loans
Need flexibility for your credit score and a lower down payment? Take a look at the popular FHA loan.
Conventional Loans
Do you have a solid credit score and are looking for great rates and options? Consider a conventional loan.
VA Loans
- Are you a U.S. military member or veteran? Find out how you can buy a home with no money down.
Specialty Programs
Do you have a unique situation? We offer a range of flexible loan programs to fit your needs.
