FORT MYERS MORTGAGE BROKER
USDA Loans in Fort Myers, FL
USDA home loans can help eligible buyers purchase a home with no down payment. Ryan Meyer, a Fort Myers mortgage broker with E Zip Mortgage, helps you find out whether the home you want and your household income fit the program, then compares it with your other options.
- No down payment required for eligible buyers under USDA’s guaranteed program
- Help checking address and household income eligibility early
Talk With Ryan
Let’s see if USDA fits your next home.
What Is a USDA Home Loan?
A USDA home loan is a mortgage backed by the U.S. Department of Agriculture’s Rural Development agency. Under the Single Family Housing Guaranteed Loan Program, approved lenders make the loan and USDA guarantees a large share of it. That guarantee is what allows financing without a down payment for buyers who qualify.
Rates and repayment details are set by the lender, not by USDA. Ryan walks you through them for your situation.
Who USDA Loans Are Designed For
USDA program guidelines say a borrower’s household income generally can’t exceed 115% of the median household income for the area where the home is located. The program also requires that:
- The home will be your primary residence
- You are a U.S. citizen, U.S. non-citizen national or qualified alien
- You’re unable to get conventional financing without private mortgage insurance
You don’t have to be a first-time buyer. USDA publishes its income limits by county, and household size matters, so the simplest first step is a quick conversation with Ryan about your household and the area you’re shopping in.
Property and Location Requirements
The home must be in an area USDA designates as eligible. Despite the “rural” label, eligibility is set by USDA’s own maps rather than by whether an area feels like the country. That’s why it pays to check the specific address before you fall in love with a home. USDA lets you look up any address on its eligibility site.
- Eligible property types: USDA lists detached and attached homes, condos, planned unit developments, and modular and manufactured homes.
- Not eligible: income-producing properties. The home has to be where you live.
USDA vs. FHA vs. Conventional
| USDA | FHA | Conventional | |
|---|---|---|---|
| Down payment | None required under USDA’s guaranteed program | Required | Varies by program |
| Location limits | Home must be in a USDA-eligible area | None | None |
| Income limits | Household income limits apply | None | None |
| Property use | Primary residence only | Primary residence | Primary, second home or investment |
If a home or your income falls outside USDA’s rules, Ryan can walk you through FHA loans, VA loans if you’ve served, or conventional mortgages instead.
How Ryan Can Help
Ryan offers USDA loans as one of the programs he brokers. He can:
- Help you confirm early whether an address and your household income fit USDA’s guidelines
- Explain what the program does and doesn’t cover
- Compare USDA with your other options before you make an offer
As a broker, he can look at your whole situation, including first-time homebuyer programs and down payment assistance, so you can choose the loan that fits.
Frequently Asked Questions
Frequently Asked Questions
USDA’s guaranteed loan program doesn’t require a down payment for eligible borrowers. USDA also allows reasonable closing costs to be included in the loan. Ryan can explain what that means for your purchase.
No. They’re for single-family homes that will be your primary residence, located in a USDA-eligible area. Income-producing properties don’t qualify.
USDA publishes an eligibility map and an address lookup tool. Eligibility can change, so it’s worth checking the specific address. Ryan can help you confirm it.
Under USDA’s guaranteed program, household income generally can’t exceed 115% of the area’s median household income. Limits vary by county and household size.
No. USDA’s guaranteed program isn’t limited to first-time buyers.
USDA’s program includes a single-close construction-to-permanent option through approved lenders. Whether it fits your build is something to review with Ryan. See also construction loans.
Let’s Talk About Your Next Move
Find Out if a USDA Loan Fits Your Next Home
Tell Ryan where you’re looking and a little about your household, and he’ll help you check USDA eligibility and compare your options.
Prefer to call? 239-910-4980
USDA program rules are set by USDA Rural Development and may change. Ryan Meyer and E Zip Mortgage are not affiliated with or endorsed by USDA. This is not a commitment to lend; programs, rates, terms and conditions are subject to change without notice.