Rural Development (USDA) Financing

Explore Rural Development Financing for Your Oklahoma Home

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As Oklahoma experiences growth in various communities with a vibrant real estate market, Rural Development Financing could be an excellent solution for you!

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A USDA home loan, part of the USDA Rural Development Guaranteed Housing Loan Program, offers a zero-down payment mortgage for eligible rural and suburban homebuyers. The USDA's mission is to assist low and moderate-income families in rural areas, turning homeownership into a reality.

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Who qualifies for Rural Development Financing?

• A minimum credit score of 640 is required.

• Must occupy the home as their primary residence.

• Meet specific income requirements.

• Purchase a property that meets all program criteria.

• Has not been suspended or debarred from participation in federal programs.

• Borrowers are required to finance Upfront Mortgage Insurance Premium (UFMIP), included in monthly mortgage payments.

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Rural Development loan requirements set by the U.S. Department of Agriculture include:

• Funds backed by loan guarantees can be used for new or existing residential property to be used as a permanent residence.

• Closing costs and reasonable/customary expenses associated with the purchase may be included in the transaction.

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Contact your loan officer to determine if you qualify for Rural Development Financing or explore other financing options!