It is a surprise to many that the USDA (US Department of Agriculture) provides mortgages. The loans may be used for homes in specific non-metropolitan towns and have great terms and options. This blog includes MA USDA home financing information.

MA USDA Home Financing Information

USDA Loan Benefits

  • Local mortgage companies are approved to provide this type of mortgage.
  • 102% financing is possible.
  • Both new purchases and refinances qualify.
  • Contrary to common perception, USDA is not restricted to farm land.
  • It applies to single family homes and multi-unit homes.
  • It can be possible to include the cost of specific improvements.

Approved Zip Codes

USDA provides a list of areas in which USDA financing can be used. Home buyers might be pleased to see some areas on the list as many are not as rural as imagined. To check eligibility for MA and and other locations, visit the USDA Loan website at and click on either single family or multi-family in the Property Eligibility menu in the left hand side. You will be required to enter a state and zip code to see a map of approved neighborhoods.

Qualification Criteria

USDA criteria are similar to FHA loan criteria. Buyers need sufficient credit scores, acceptable earnings, and the ability to repay the financed amount. Income limits (found at differ by state, county and size of your household. USDA loans will take more time to process than other mortgages. Ask a USDA mortgage professional about applicable time lines to ensure that you allow sufficient time before closing.

Where to Find USDA Assistance

Select a reputable local bank that is approved to provide USDA mortgages. Your real estate broker should be able to refer a lender. Obtain a pre-approval early and know the requirements and options in advance of making an offer on real estate. Contact Peter DaMore at 781-229-7900 or for up to date MA USDA home financing information.