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BTC Bank

USDA Home Loans

A rural development loan is a home loan program from the United States Department of Agriculture. Also known as the Single Family Housing Guaranteed Loan Program, USDA loans help low- and moderate-income families purchase homes in eligible rural areas. As an approved USDA lender, BTC Bank offers USDA mortgages in Missouri and Lamoni, IA.

Benefits of a Rural Development Loan

  • Flexible credit requirements
  • Receive up to 100 percent financing, meaning no down payment
  • Low interest rates
  • Affordable Private Mortgage Insurance premiums

When to choose a USDA Mortgage

A rural development loan may be your best choice if you meet the eligibility requirements, including your income and the property address. Homes purchased with USDA loans must be used as the borrower’s primary residence. If you find you’re not eligible for a USDA loan, you might want to try a conventional fixed-rate mortgage or home loan refinancing instead.


Apply for a USDA Home Loan





How do you qualify for a USDA loan?

You must be a U.S. citizen or permanent resident, have a minimum 640 credit score and a credit history that demonstrates at least one year without late payments or collections, show proof of steady income, have household income that is no more than 115 percent of the median income in your area, and plan to buy a home in a qualified rural area that will be your primary residence.

What is the income limit for a USDA loan?

The answer depends on the specifics of your household situation, but generally, income should be equal or less to 115 percent of the area median. Answer a series of questions to find out your income limit.

Can you refinance a USDA loan?

Yes, USDA home loans can be refinanced into conventional mortgages or new USDA loans.

Learn more about
USDA Loans from your Community Mortgage Lender

Since 1919, BTC Bank has provided personal customer service to local communities in Missouri and Iowa. We have a rich history of helping our customers become homeowners and we can help you, too. To explore the benefits of USDA loans and verify your eligibility, visit a BTC Bank branch near you or contact us today. 


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