For today’s Mortgage Minute Josh Wright with ERA Mortgage give us information about the USDA Loan program. A USDA loan is a 100% loan option for purchasers looking to buy a house in a rural area. In our market, most everything outside of the city limits of Anniston and Oxford is considered rural. Currently a credit score of 620 or higher is required. Their is a monthly fee, however it is less than the monthly private mortgage insurance (PMI) incurred with an FHA Loan, says Josh. Since this loan is geared toward low-income families, roughly on a household of 4 the total household income must not exceed $74,500.00 a year. The property will need to be located within the USDA eligible zones. If you have any additional questions about USDA Loans or any loan products just ask!