USDA Loan Frequently Asked Questions

Security First Financial offers hundreds of affordable loan options, including USDA loans. USDA loans are a great tool for low- to moderate-income borrowers looking for homes in rural areas.

Check out these frequently asked questions to learn more about how they work...

What does USDA stand for?

USDA stands for the Unites States Department of Agriculture. This is the government organization that insures the loan.

What is a USDA loan?

USDA loans were designed to make rural homeownership more affordable. These fixed-rate loans are government insured and are often available with 100% financing.*

Who is eligible for a USDA loan?

To qualify for a USDA loan, the property must be in an eligible area. There are geographic restrictions, but in general it needs to be in a rural area. The property must be owner-occupied, and only one-unit homes are eligible.

We can help you figure out if you’re eligible for this loan. It’s a great option for first-time homebuyers, but you don’t have to be a first-time homebuyer to qualify.

What down payment is required with a USDA loan?

You can get a USDA loan with no down payment.* This is one of the main benefits of a USDA loan since it makes it easier to buy a home sooner.

Do you need great credit to qualify for an USDA loan?

You can qualify for a USDA loan with a credit score as low as 620.

Will I have to pay mortgage insurance?

You will likely have to pay mortgage insurance with a USDA loan. In most cases, your mortgage insurance payment will depend on how much your down payment is.

What can I use a USDA loan for?

USDA loans can be used to buy a new home, but in some cases can also be used for a cash-out refinance. There is also a version of USDA loans for manufactured homes.

A USDA loan is one of the many affordable home financing options available. As always, we’re here to help you find the option that works for your unique needs, whether it’s a USDA loan or another program.

Contact us today if you're interested in a USDA loan or have any other questions. (303) 740-8300

*Closing costs and fees may still apply

Original blog post by Primary Residential Mortgage Inc.

82 views0 comments
  • Security First Financial Facebook
  • Security First Financial LinkedIn
  • Security First Financial YouTube
  • Security First Financial Instagram
  • Security First Financial Twitter

Security First Financial is a division of Primary Residential Mortgage, Inc. PRMI NMLS 3094. Branch NMLS ID# 385589. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Colorado – Regulated by the Division of Real Estate, UCCC #987701-016. Arizona – Arizona Department of Financial Institutions 0902614. Massachusetts – Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Florida - Florida Office of Financial Regulation MLD646. Texas - This office is licensed and examined by the Office of Consumer Credit Commissioner of the State of Texas. 

Your opinion is greatly appreciated, we thank you for visiting this website of Primary Residential Mortgage, Inc. If you have specific questions, comments, concerns, or complaints we invite you to contact us by the email shown here: Emails received during business hours should receive a response within 48 hours, excluding weekends or holidays.

Primary Residential Mortgage, Inc. is licensed under the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking through one of the means indicated below: In Person or U.S mail: 2601 North Lamar Boulevard, Suite 300, Austin, Texas 78705-4294, Telephone No. (877) 276-5554, Fax No: (512)475-1313 Email: Website:

Consumers wishing to file a complaint against a mortgage banker or licensed mortgage banker residential loan originator should complete and send a complaint form to the TX department of savings and mortgage lending, 2601 North Lamar Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department’s website at A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery find must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at


©2021 Security First Financial, A Division of Primary Residential Mortgage, Inc. All rights reserved.

Security First Financial Logo