Central Bank of St. Louis

  • USDA Loan

    Are a homebuyer looking for housing in rural areas? A USDA Loan may be an affordable financing option for you.

    The USDA loan, a loan offered by the U.S. Department of Agriculture, is a government-backed loan offered to qualified homebuyers that are specifically looking for housing in rural areas. This type of loan is good for homebuyers that are seeking a payment option with little to no down payments, as a USDA Loan can typically finance 100% of a mortgage. One of the main stipulations with this financing option is that the home purchase must be in an area classified as “rural” by the USDA.

    • Minimal down payment
    • Closing cost included in the loan amount
    • Government-backed loan
    • Loan funds may be used to purchase and repair a home
    • Lower payments than traditional mortgage loan
    • No maximum purchase price
    • No monthly mortgage insurance
  • Equal Housing Lender. Equal Housing Lender. Member FDIC.