Intended for very low‑income or low‑income borrowers purchasing in USDA‑designated rural areas.
Repayment terms: Up to 33 years, and up to 38 years for very low‑income borrowers
No down payment required. Eligibility depends on income limits, citizenship, and ability to afford repaymentÂ
Meant for low-to-moderate income borrowers, up to 115% of area median income.
Loan is underwritten by private lenders and guaranteed 90% by USDA—allows non‑down payment, 30‑year fixed mortgagesÂ
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Payment Subsidy: Direct loan applicants may receive subsidy based on income, reducing effective interest rate to as low as 1%Â
Guarantee / annual fees: USDA loans include an upfront guarantee fee (typically 1% of loan amount) and an annual fee (0.35% of outstanding balance) instead of private mortgage insuranceÂ
Eligibility: Property must be in USDA‑eligible rural areas; household income must be below area thresholds; borrower must occupy the home as primary residence
Credit Score & DTI: Stronger credit and lower debt‑to‑income ratios usually result in lower rates. While USDA doesn’t always enforce a minimum FICO, lenders often prefer 640+Â
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At VMA Lending, we bring over 30 years of combined experience helping individuals and families achieve their homeownership and real estate investment goals. As a trusted Florida-based mortgage brokerage, we specialize in FHA, VA, Conventional, DSCR, Non-QM, and Down Payment Assistance programs. Our team is committed to providing personalized guidance, competitive rates, and a smooth lending experience from start to finish. Your success is our mission.