USDA Mortgage Rural Development

USDA Mortgage Rural Development  – Available in Lathrop, Linden, Galt, Acampo and more

California USDA Guaranteed Rural Development Home Mortgage Loan is a flexible no down payment government insured program that is growing in popularity for Northern California residents and other rural areas of
California.  It’s designed to promote home ownership for low to moderate income earners who have limited savings for a down payment.  The USDA loan will actually lend up to 102% of the home’s appraised value and even allow the buyer to include closing costs in the actual loan (appraisal permitting).  Current areas include Galt, Linden, Acampo, Turlock, Copperopolis, Lathrop, French Camp, Valley Springs, Lockeford.

USDA Rural Home Loan Guidelines:

  • 102% Financing
  • No Down Payment
  • Yearly Guaranty fee lower than FHA’s MIP
  • Loan Amounts up to $417,000
  • No Cash Reserve Requirements
  • 6% Seller Contribution Limitations
    USDA Mortgage | Rural Development | Lathrop | Linden | Galt
  • 100% Gifted Closing Costs allowed
  • 30 year low fixed rate loan
  • No Prepayment Penalty
  • Primary Residents only (no rentals/investments)
  • It’s| No  possible to ‘roll’ closing costs into the loan
  • Non-borrowing spouse must disclose debt

Like FHA & VA, USDA doesn’t actually fund loans, but instead guarantees them, which makes them safer investments for lenders.

A common misconception about the USDA loan program is that it’s only for farmers.  There are many areas in San Joaquin and Sacramento counties such as Linden, Lathrop, Acampo, Galt, Wilton, Lockford, Ripon, Thronton and many more that qualify for the USDA home loan.

Jeff Womack

Jeff Womack

Sr Loan Officer and Mortgage Blogger at The Mortgage House Inc.
HARP, FHA, VA, Conventional, USDA, down payment assistance. Blogger and mortgage expert helping potential home buyers finance homes . Serving Stockton, Lodi, Elk Grove, Sacramento (NMLS #262055)
Jeff Womack


Mortgage & real estate information with your home loan expert in the Stockton and Sacramento area.
Jeff Womack