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Want to live outside of the city limits or just on the edge of a suburban area? Consider a USDA home loan.

See What You Qualify For

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Out of Pocket Costs
$0 Down, 100% Financing


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Home Qualifications
Single & Multi-Family Rural Homes

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Competitive Interest Rates
Often Lower than Conventional Loans


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Flexible Credit Guidelines
640 Credit Score Requirement*


*Scores below 640 may be eligible via manual underwriting. 

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USDA Defined Rural & Suburban Areas


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Closing Cost Opportunities
Roll Closing Costs into Mortgage

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Does my property qualify for a USDA home loan?

The home to be purchased or refinanced must be located in an eligible rural area as defined by USDA.

Check USDA Eligibility


powerful benefits iconPowerful Benefits for Rural Homebuyers

USDA loans help make homeownership more affordable in rural areas. The United States Department of Agriculture (USDA) backs USDA loans. A lender like Midland States Bank issues the loan, while the USDA's involvement guarantees it. Most USDA loans have competitive interest rates and low-cost mortgage insurance (paid monthly). They also have flexible credit requirements, making it easier for low- and middle-income families to get approval.

Ready to get started? Get pre-approved to buy a home so you can get to house hunting sooner.

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USDA Loan Eligibility Requirements 

As with any loan, you must meet certain requirements to confirm USDA loan eligibility. To be an eligible candidate for a USDA loan, consider these general requirements:

  • Be a legal U.S. resident.
  • Show two years of income history.
  • Demonstrate a willingness to repay the loan as proven by no late payments or collections within the prior 12 months.
  • Have an acceptable debt ratio.
  • Possess an adjusted annual income of no more than 115% above the median income for the area as related to family size.
  • Be interested in a property in an area certified by USDA loan agreements.

Get Started with Midland States Bank

Midland States Bank is a full-service company with experience handling mortgages and USDA loans. We operate locally in Illinois and Missouri and provide our customers with comprehensive services. Partner with us and enjoy:

  • Quick turnarounds: We have low rates and fast closings for those qualified for USDA loans.
  • Full-service guidance: Our mortgage loan originators guide you through the approval process from beginning to end. We are also available to answer questions throughout the process.
  • Online applications: We offer virtual applications that allow you to apply from any device, anywhere.

We understand the requirements for USDA loan refinance and loan approval. Our team will help determine what you need and lead you on the right path to get there.

Ready to get started? Get pre-approved to buy a home so you can get to house hunting sooner.

Start Online

Frequently Asked Questions

These mortgage loans are insured by an agency of the federal government, protecting the lender in the event a borrower can’t repay the debt. This significantly reduces the risk to the lender and may make it easier for borrowers to take out a loan by offering more lenient credit guidelines, interest rates, and down payment options.

While both are government-backed mortgages, USDA loans are run by a different government agency than FHA loans and has different application, underwriting, appraisal, lending amount, and mortgage insurance requirements. To be eligible for a USDA loan, borrowers must be purchasing or refinancing property in rural areas that the USDA has defined as eligible.

No, despite what the name implies. As long as you meet the property and eligibility qualifications for a USDA loan, you can apply.

You can navigate to the USDA's eligibility website and type in the exact address of the home you want to purchase to find out if it's in an approved area.

There are no set loan limits for USDA loans, but the maximum amount is set based on your ability to qualify for a USDA loan.

Yes, private mortgage insurance is required by the USDA and pays your lender if you default on your loan.

These are fees involved during the USDA home loan process. The upfront guarantee fee is normally equal to 1% of the loan amount. It’s usually added to the initial loan amount and paid at closing. The annual fee is normally equal to 0.35% of the loan amount and some is financed into your loan.

Yes, you should work with a Midland States Bank Mortgage Expert to help determine if you are eligible. A USDA eligibility map is a tool that helps you determine if a property is eligible for USDA financing. The map is based on the U.S. Department of Agriculture's (USDA) definition of "rural," which includes areas with a population of 35,000 or less. Your Midland States Bank Mortgage Expert will help you determine if you are eligible and if this is a good loan option for you.

To use a USDA eligibility map, simply enter the address of the property you're interested in purchasing into the search bar. The map will then show you if the property is eligible for USDA financing.

If you're not sure if a property is eligible for USDA financing, our team of mortgage specialists are ready to help you. They will be able to help you determine if the property is eligible and answer any other questions you may have.

Here are some additional tips for using a USDA eligibility map:

  • The map is updated regularly, so be sure to check the latest version before making a decision.
  • The map is not a guarantee of eligibility. The final determination of eligibility is made by USDA upon receipt of a complete application.
  • If you have any questions, be sure to contact our mortgage team.

To apply for a USDA home loan, you will need to: 

  1. Contact a Midland States Bank mortgage banker or apply online.
  2. Provide the mortgage banker with the required documentation.
  3. Complete a loan application.
  4. Provide the mortgage banker with a down payment.
  5. Close on your loan.

The USDA does not have a minimum credit score requirement, but most lenders require a score of at least 640. If your credit score is below 640, you may still be eligible for a USDA loan, but your loan will need to go through manual underwriting. Contact a Midland States Bank mortgage specialist to learn more about what you qualify for.

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Begin Your Application Today

Do you want to start the USDA loan process today? You can start the process online now or contact one of our experts for more information

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*Scores below 640 may be eligible via manual underwriting.