USDA Loan Eligibility


The USDA loan is part of a federal program that supports rural development. If you’re buying a home in a rural area, make sure to check with me to determine if you’re eligible for a USDA loan. The USDA loan requires ZERO down payments – which is almost unheard of these days.

Other benefits to the USDA loan includes a 30-year fixed interest rate – meaning the rate will not adjust over its lifespan. Also, no mortgage insurance is required on a USDA loan.

If you’re eligible for a USDA loan, this is a great route to financing. Below are some eligibility requirements:

  • Rural area
    You must purchase property within an eligible area. To determine if you’re eligible, check out the interactive map on the
    USDA’s website or call my office at 425-214-1266.
  • Income requirements
    There is an income limit that is set for your county – you must not exceed that in order to be eligible. Some of the factors that go into determining include:
    • Your county
    • The total number of people in the household
    • The number of residents under age 18 (or disabled or full time students)
    • Your age
    • The number of disabled persons in the home
    • Your monthly expenses versus your income
  • Credit history
    This works differently than a credit score – your credit history will be reviewed to determine if you appear to be someone able to repay the debt and not default on the loan.

Get started by calling us at 425-214-1266.

9 Lake Bellevue Drive Suite 118
Bellevue, Washington 98005
Phone: 425-214-1266

Branch Licenses

NMLS #1428470, WA (MLO-106205), CA (CA-DOC106205), OR, ID, WIPaul Dolan - NMLS# 106205; Michelle Erickson - NMLS# 414118; Angelina Barrientes - NMLS# 1419869
LeaderOne Financial Corporation Licenses
NMLS # 12007
WASHINGTON - LeaderOne Financial Corporation. Licensed by the Washington Department of Financial Institutions, License # CL-12007. OREGON - Licensed under the Oregon Consumer Finance Act, License # ML-5075. CALIFORNIA- Licensed by theDepartment ofBusiness Oversight under the California Residential Mortgage Lending Act. License# 4131276. Corporate Headquarters: 11020 King Street, Suite 390; Overland Park, KS 66210, NMLS ID #12007 http://www.nmlsconsumeraccess.org.  Toll Free (800) 270-3416.  This advertisement does not constitute a loan approval or a loan commitment. Loan approval and/or loan commitment is subject to final underwriting review and approval.