Mortgages Unlimited, Minnesota, Wisconsin, and South Dakota
(651) 552-3681       Service Sets Us Apart

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Client Testimonials

"Thanks for all your help and explanations. The people at the USDA office had me confused. I'm sure glad I switch to you for my USDA loan"
Mary M.  - Aitkin, MN

"Both you and the USDA loan rock!  I bought my dream house with just $250 total out of my pocket. I will gladly recommend you to anyone who is also seeking a home mortgage."
-Tim W. Hudson, WI

(Read more client testimonials)


Early 1960's = 5.25%
June 1971, about 7.53%
June 1981, about 16.70%June 1990, about 10.16%
June 1998, about 6.99%
June 2000, about 8.29%
June 2005, about 5.58%
June 2009, about 5.52%
June 2010, about 4.75%
May 2013 about 3.54%

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USDA Rural Development Loans
USDA Income Limits | USDA Property Map | USDA Loan Application | USDA Program Highlights | USDA Streamline Refinance

Want to buy a rural home?   Want Zero Down Payment? Then this mortgage loan is for you!

USDA Loans in MN, WI, and SDThe US Department of Agriculture administers a means tested mortgage loan guarantee program called the USDA Rural Development Loan. Commonly referred to as just a USDA Loan, RD, or Rural Housing loan.

This USDA loan is designed to provide low cost housing for those wanting to live in rural areas, and is primarily for first time home buyers, although you do not need to be a first time home buyer to use this program. Prospective home buyers can apply with a MN, WI, or SD area USDA Home Loan Lender like us, who will process, underwrite, and close your mortgage loan.

You DO NOT need to go through a local USDA office.

This is not a “farm” loan. You can not use it to buy a farm. Rather is is a mortgage that is designed to support housing in rural communities. Not all “rural” areas are in the middle of a cornfield. Many areas of Minnesota, Wisconsin, and South Dakota qualify. We can help you determine if your area is eligible

Get USDA Loan Approved with 3 Simple Steps:

Do a USDA Income Eligibility check. Does you household income qualify

Do a USDA Property Eligibility check. Is the house in an eligible rural area?

Fill out an online USDA Loan Application. Get approved in a few business hours.

USDA Program Program Highlights



USDA Income Limits: The USDA loan in MN, WI, or SD does have income limits to qualify. The loan is a "means tested" program, which states that you or your family can't make too much money. There are allowable income adjustments for minor children (family size), child care expenses, and elderly family members. Most moderate to middle income families WILL qualify. You can easily check income limits for your family size, state, and county on the USDA Loan income eligibility web site.

USDA Rural Areas Only:  Basically, a rural area for the USDA loan is anything outside a major metropolitan area. This may be closer to the big city than you think, so be sure to check the property eligibility map to make sure the area you wish to buy a home fits USDA's property location guidelines.

Type of Home: The home must be on a publicly maintained road, or in a development with private roads. It must be a single family home (no duplexes), must be owner occupied (no investment homes), and may not produce income.

No business can operate on the property.  A hobby farm is OK, but agricultural land that is getting farm income (even from renting part of the land), or any property that will be farmed is not OK.

Properties that have a significant number of building other than the home itself, such as pole sheds, old barns, and old silo's can be an issue with the USDA Loan.  be sure to contact us to discuss any questionable properties BEFORE signing a purchase agreement.

Closing Costs: All mortgage loans have closing costs. Lender fees, appraisal, credit report, title company, state taxes, origination fees, and more. These need to be paid for by you the buyer. The best way is always for the buyer to pay cash.  But as most first time home buyers have limited funds, you are also allowed with a USDA loan to roll the closing costs into the loan with "seller paid closing costs."  You can also pay them by taking a slightly higher interest rate. Under these two options, you are still paying for the closing costs, but you are essentially paying over time versus cash out of pocket today. How cool is that?

Unacceptable Credit Items: If you have any of the following items, you automatically do not qualify for the USDA loan in MN, WI, or SD.  You may qualify for other loans (like an FHA loan), so be sure to contact us for more information on other loan options:

  • Poor Credit (middle credit score BELOW 620)
  • Delinquent Government Debt (back taxes, student loans)
  • More than 2 late mortgage or rent payments in the past 12 months
  • Any credit account turned into a collection account in the past 12 months
  • Unpaid Tax Liens (must be paid off to buy)
  • Foreclosure less than 3-years old
  • Bankruptcy Chapter 7 less than 3-years old
  • Bankruptcy Chapter 13 less than 1-year old
  • You have more than 20% of the purchase price in the bank (this does NOT include retirement accounts like a 401k)
DON'T QUALIFY FOR A USDA Loan?  There are other home loan possibilities. DON'T ASSUME you can't qualify for something else. Call (651) 552-3681 to discuss your personal situation. For example, with an FHA loan, a bankruptcy only needs to be two-years old, and we can offer loans with a credit score of 620. We also offer down payment assistance loans, that require only as little as $1,000 of your own money. If you are active military or a Veteran, a VA Home Loan only requires two-years past a foreclosure or a bankruptcy.

We hope this information is helpful. We would be proud to help your home buying dreams come true with a zero down payment USDA rural development loan.  Apply online today, have an answer tomorrow.

USDA Streamline Refinance

If you have an existing USDA loan in MN, WI, or SD, you are eligible to refinance your home to a lower interest rate just like any other loan, with a streamlined process.  The biggest benefit of the USDA streamline refinance is there is NO APPRAISAL REQUIRED.

In order to qualify for a USDA  Streamline Refinance, you must meet the following:

  • Have an existing USDA Rural Development Loan on your home
  • The existing loan to be refinanced was closed at over 1-year ago
  • You must have been current on your existing loan for at least the past 12-months.
  • The new principal, interest, taxes and insurance (PITI) monthly amount is less that the monthly PITI amount on the existing loan.

Tweets by Joe Metzler, Senior Loan Officer. Tweets are Joe's personal comments and ramblings, not the Mortgages Unlimited.

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Policies, Procedures, Disclaimers

33 Wentworth Ave E
St Paul, MN 55118

(651) 552-3681  

Member in Good Standings, Minnesota Mortgage Association

Our services available only for properties located in Minnesota, Wisconsin, and South Dakota. Licensed as Mortgages Unlimited, Inc. NMLS # 225504. As a Lenders One partner, we are part of the 3rd Largest Retail Mortgage Originators in the country. We are consistently ranked as one of the top mortgage lenders in Minnesota by Minneapolis St Paul Business Journal. Any use or duplication of any materials is strictly prohibited.  All images, text, and materials Copyright 1998-2015 Joe Metzler. This is the private web site of Joe Metzler, NMLS #274132. All Rights Reserved.

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