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USDA Rural Home Loans

Home Loan Types Refinance Loans USDA Rural Home Loans

USDA Rural Home Loans

What is a USDA Rural Home Loan?

It’s a great way for rural homeowners to get up to 100% financing — and several other benefits — on a new home! Whether you’re looking to buy, build, repair, renovate, or even relocate a home, a USDA rural home loan from Scion Lending can help you make your homeownership dreams come true.


What Are The Benefits?

A USDA rural home loan from Scion Lending provides many benefits:


  • You may qualify for up to 100% financing. The loan amount may not exceed 100% of the appraised value.
  • No down payment is required.
  • Your interest rate will be fixed, keeping your monthly payments consistent throughout the loan term.
  • Closing costs can be paid by the seller or included in the loan.
  • The program is not limited to first-time homebuyers.
  • There is no maximum purchase price, though qualifying ratios and income will determine eligibility.

What Are The Eligibility Requirements?

To qualify for a USDA rural home loan, you must meet certain criteria as defined by the USDA:


  • Applicants for loans may have an income of up to 115% of the median income for an area.
  • In addition to area median income requirements, you must meet the income restrictions for your respective county.
  • You must already be without adequate housing but be able to afford your mortgage payments, including insurance and taxes.
  • You must have a reasonable credit history.
  • Loans have a 30-year term.

Finding An Eligible Home

In addition to the personal eligibility requirements, the home you’re looking to finance must be located in a designated USDA rural area and be one of the following:


  • An existing home
  • New construction
  • A modular home
  • Planned unit development (PUD)
  • An eligible condominium
  • A new manufactured home

Certain home repairs and improvements may be included in the loan. Investment properties are not eligible.

Related Information

Our USDA Streamline Refinance program gets you to closing quicker and more efficiently! Learn...

A USDA Rural Home Loan allows you to own a home away from the city with up to 100% financing....

A home equity line of credit (HELOC) offers a flexible way to borrow funds. Click here to read more.