Texas USDA

Up to 100% Financing

Texas USDA Loans

USDA Loans – Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for rural Texas properties. This program helps eligible low- to moderate-income families achieve home ownership – via a no down payment home loan option. USDA loan limits in Texas vary by county –  the highest counties are set at $396,400.

* 100% Financing
* 600 Min FICO Score
* Terms: Up to 30 Years
* Low interest rate
* Gift funds can be used at closing

2024 USDA Loan Eligibility

In Texas the USDA loan eligibility is based on the property size, location and condition along with income and other qualifying factors. Some of these requirements include:

  • Property must be located in a USDA designated rural area (Check Eligibility Map)
  • Maximum loan limits vary based on location
  • Household members can have a total income of up to 115% for area medium income
  • Household must be able to afford mortgage, property taxes and annual fees.
USDA Loans

What is a USDA Loan?

USDA loans are mortgages backed by the U.S. Dept of Agriculture as part of its Rural Development Guaranteed Housing Loan program.

Texas USDA loans are intended to be loans for borrowers with lower to average income.  They offer home financing with no down payment, reduced insurance, and lower rates. 

Compared to other home loan programs, USDA interest rates are some of the lowest rates that we can offer.  Another advantage of USDA, is that USDA rates some of the best, matched only by VA loan rates. At Lone Star Financing we specialize in Texas USDA loans and can close loans fast. 

To get the lowest possible rate, then you will need an excellent credit score. You should also have a low debt-to-income ratio. Making a larger down payment will also be a factor to get the lowest rate possible.  

USDA Rates

getting rates...

30 Year USDA

100% financing rural properties

Minimum FICO Credit Score

620

Minimum Down Payment

0%

Maximum Loan To Value

100%*

Maximum Debt To Income

41%*

Except Onse To 45%

Mortgage Insurance

Yes

Years Since Bankcruptcy

3

Years Since Foreclosure

3

Years Since Short Sale

3

Special Qualification Requirements

USDA "Rural"
Property Loan

Texas USDA Mortgage

Headquartered in Grapevine, Texas, Lone Star Financing specializes in USDA new home loans and USDA mortgage refinance.  We’ve been closing loans in Texas since 2007 and can close loans anywhere in Texas.   Lone Star Financing is an approved USDA lender in Texas. As a direct lender we can close loans fast – typically in 28 days or less.  Apply online  and we look forward to earning your business

About USDA Loans

Before you apply for an USDA loan, there are a few things you need to know.

It’s important to understand the limits and requirements before you apply – to insure you have the best chance of approval.

2024 Texas USDA Loans

USDA offers a true zero down home loan – 100% financing + guarantee fee = 101% of appraised value.  Another advantages is the lower monthly insurance,  a rate of .3% compared to FHA which is 1.35%. 

The average household income limits for a USDA loan in Texas is $122,850. The household limits also vary according to how many occupants in the home. With 5 or more occupants the limit can be as high as $178,950.

To search the USDA home loan income limits per counties for the state of Texas, check out the USDA eligibility screen for income limits by county. 

Lone Star Financing is an approved USDA lender in Texas and we can close loans fast!

USDA Loans - Any Negatives?

What are the Drawbacks? 
 
  • Only for primary residences. USDA loans cannot be used to purchase a vacation home/rental 
  • There are location/area restrictions. Not for urban properties.
  • Income limits will apply
  • Mortgage insurance is factored into the cost.

Still have questions about USDA loans in Texas?  Lone Star Financing is an approved USDA, FHA and VA lender in Texas. Call to speak to one of our loan officers – We can help!

Texas USDA Loans
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