USDA stands for United States Department of Agriculture. In the past, USDA Loans were considered "farm loans", mostly used to purchase properties in agricultural areas. That is not the case with today's USDA Loans. In fact, properties in almost every area of the country outside major metropolitan areas can be purchased with a zero-down USDA Loan today.
A Tennessee USDA loan provides low-cost insured home mortgage loans that suit a variety of options. If you're unsure about your credit rating, or have concerns about a down payment, USDA mortgage loans can give you piece of mind with super low closing costs and flexible payment options.
Tennessee USDA Loan Advantages
- No Down Payment Required
- 30 year fixed rate
- 102% LTV (100% plus guarantee fee)
- Finance Closing Costs If Appraisal Is Higher Than Sales Contract
- No Mortgage Insurance
- No cash contribution required from borrower
- Unrestricted gifts, no need to document source
- No Maximum Loan Amount
- No Reserve Requirement
- Competitive rates (set by underwriting lenders)
Loan Programs 
