Michigan first-time buyer guide
USDA Loans in Michigan: Zero-Down Financing and Property Eligibility
How USDA guaranteed loans work and where to check an address.
What a USDA guaranteed loan offers
The USDA Single Family Housing Guaranteed Loan Program can provide eligible low- and moderate-income buyers with 100% financing for a qualifying primary residence. It is not limited to first-time buyers, but it can be a valuable first-home option when both the household and property meet current requirements.
The address must be eligible
USDA eligibility is based partly on designated rural-area boundaries. Many eligible locations are outside major urban centers, but an address should never be assumed eligible based only on its appearance or mailing city. Search an address with USDA’s official property-eligibility tool. The map is preliminary; USDA makes the final determination after receiving a complete application.
Income and occupancy rules apply
USDA reviews total household income against limits for the area and household size. The home generally must be the borrower’s primary residence, and credit, repayment ability, property condition, appraisal and other underwriting requirements apply.
Zero down is not zero cost
100% financing addresses the purchase-price down payment. Buyers may still have closing costs, prepaid taxes, homeowners insurance, inspections, earnest money or reserves. Eligible seller or lender credits may help within program limits. Compare USDA with conventional, FHA, VA and assistance options using complete estimates.
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