There are two types of direct USDA loans: 502 and 504 loans. A 502 loan is used to purchase an existing home, and a 504 loan allows the borrower to make updates or improvements on a home.

With a USDA home loan, borrowers can finance property with no down payment, as long as they buy in eligible locations. To borrow with a USDA home loan, the property must be in a designated rural area.

Types of USDA loans USDA-guaranteed loans are the most common type of USDA mortgage, but there are also two other types of USDA loans: direct and home-improvement home loans. The lowest-income ...

Jan. 22—USDA Rural Development has funding available for very low- and low-income individuals and families seeking to purchase or repair a home in a rural area. The Direct Home Loan program ...

The USDA’s definition of “rural” is really a lot broader than people probably assume when they’re thinking about their home-buying options. It really comes down to population density.

USDA home loans are great, but they aren't for everyone If you have the savings to make a down payment, then a USDA loan is probably not for you because of the fees involved.Likewise, if you hope ...

USDA eligibility maps help homebuyers find properties that can be financed with a USDA loan. Learn more about the USDA loan map and how to use it.

USDA home loans are great, but they aren't for everyone If you have the savings to make a down payment, then a USDA loan is probably not for you because of the fees involved.