2 min read
May 23, 2023
Down Payment Requirements for USDA Loans
No down payment is typically required for a USDA loan, but the borrower must meet USDA eligibility requirements like living in a USDA qualifying area.
Homebuying is a big deal, and here at Neighbors Bank, we are here to guide you along the way. Learn all things homeowning, credit and financing, refinancing and more.
USDA loans do not have PMI. Instead of requiring mortgage insurance, USDA loans have a guarantee fee and annual fee paid to the Department of Agriculture.