--- title: USDA description: Get clear answers to common conventional loan questions. Learn about requirements, credit score, down payment, PMI, and closing costs. --- [Skip to content](https://www.nelsongroupmovesu.com/usda#main-content) Nelson Group Powered by Edge Home Finance - [Home](https://www.nelsongroupmovesu.com) - [Loan Options](https://www.nelsongroupmovesu.com/programs) - [Today's Rates](https://www.mortgagenewsdaily.com/mortgage-rates/mba) - [Free Tools](https://www.mortgagecalculator.org/free-tools/) - [About Us](https://www.nelsongroupmovesu.com/about-us) Show submenu for About Us - [Corporate Home](https://www.nelsongroupmovesu.com/www.edgehomefinance.com/Kenny-Nelson) Open main navigation Close main navigation - [Home](https://www.nelsongroupmovesu.com) - [Loan Options](https://www.nelsongroupmovesu.com/programs) - [Today's Rates](https://www.mortgagenewsdaily.com/mortgage-rates/mba) - [Free Tools](https://www.mortgagecalculator.org/free-tools/) - [About Us](https://www.nelsongroupmovesu.com/about-us) Show submenu for About Us - [Corporate Home](https://www.nelsongroupmovesu.com/www.edgehomefinance.com/Kenny-Nelson) - [Contact us](https://www.nelsongroupmovesu.com/contact-us) [Contact us](https://www.nelsongroupmovesu.com/contact-us?hsLang=en) ### USDA /National Down Payment Assistance USDA loans make homeownership more affordable with **no down payment**, flexible credit guidelines, and competitive rates for eligible rural and suburban homes. National Down Payment Assistance programs help cover down payment and closing costs through grants or low-interest assistance—often paired with USDA, FHA, VA, or Conventional loans—so you can buy  with **less money out of pocket**.         Nee more Info FAQ's Below ![Arrow on the road](https://www.nelsongroupmovesu.com/hs-fs/hubfs/Arrow%20on%20the%20road.jpeg?width=354&height=245&name=Arrow%20on%20the%20road.jpeg)   USDA ### **Property Requirements** - Must be located in a **USDA-eligible rural or suburban area** - Primary residence only (no second homes or investments) - Single-family homes, some condos, and new construction may qualify - Property must meet USDA safety and livability standards --- ### **Income Guidelines** - Household income cannot exceed **115% of the Area Median Income (AMI)** for the county - **All adult household income is counted**, even if they are not on the loan - Stable, reliable income required (typically a 2-year history) - Overtime, bonus, commission, and self-employment income may be used with documentation --- ### **Credit Guidelines** - **640 minimum credit score** for automated approval - Scores below 640 may be considered with manual underwriting - Limited late payments in the past 12 months - Waiting periods apply for bankruptcy or foreclosure --- ### **Debt-to-Income (DTI)** - Target ratios: **29% housing / 41% total debt** - Higher ratios may be approved with strong compensating factors National Down Payment Assistance **Down Payment Assistance Made Simple** Get help with your home purchase through **grant and forgivable assistance programs**. -  Receive **2.5%–3.5% of the purchase price** toward your down payment and sometimes closing costs—**no second mortgage, no monthly payments, no repayment required**. - **Or access** Flexible options** repayable assistance** up to **3.5%–5%** of the purchase price to cover down payment and closing costs. Forgivable funds may be forgiven after meeting program requirements, while repayable options offer structured payments with no income limits. Both programs make homeownership **more affordable and accessible**, whether you’re a first-time buyer or looking to upgrade. # Nelson Group Powered by Edge Home Finance             Mortgage financing should feel like a relationship, not a transaction!   Kenny Nelson NMLS #856822   Nelson Group Powered by Edge Home Finance Company NMLS: 891464 5868 Baker Rd Minnetonka, MN 55345   [https://edgehomefinance.com/privacy-policy/](https://edgehomefinance.com/privacy-policy/) [https://edgehomefinance.com/licensing-disclaimer/](https://edgehomefinance.com/licensing-disclaimer/) [www.nmlsconsumeraccess.org](https://www.airbornemortgagegroup.com/www.nmlsconsumeraccess.org) Contact Us - Phone 251.591.7003 [Kenny.Nelson@Edgehomefinance.com](mailto:ken.harter@airbornemortgagegroup.com) Kenny Nelson NMLS: 856822  AL /FL [facebook-f icon](https://www.facebook.com/Knelson316) [linkedin-in icon](https://www.linkedin.com/in/kenneth-nelson-30b08b76/) [twitter icon](https://x.com/knelson79) [instagram icon](https://www.instagram.com/Kennynelson50/#) [Follow us on Facebook](https://www.youtube.com/@NelsonGroupedge) .footer-container, .footer-wrapper, .footer-row { max-width: 100% !important; width: 100% !important; margin-left: 0 !important; margin-right: 0 !important; }