Skip to content
Bank of Texas Powered by BOK Financial Logo

USDA Rural Development Loans

Mortgages Backed by the USDA

With loans available to home buyers in rural areas and financing assistance to those who qualify, a USDA loan can help you make the dream of homeownership a reality. Learn more about USDA Loans from Bank of Texas and apply today.

Person in overalls with another person sitting on barn door after closing on USDA rural home loan.

What is a USDA loan?


USDA loans are mortgages back by the U.S. Department of Agriculture as part of the USDA Rural Development Guaranteed Housing Loan Program. USDA loans are available for low- and moderate-income households in eligible rural areas and offer 100% financing, eliminating the need for a down payment.

  • The USDA Rural Development loan program provides low- and moderate-income households the opportunity to own a primary residence in eligible rural areas. It provides options for no down payment and low monthly mortgage insurance which saves you thousands.

    • No down payment
    • Minimum 620 credit score
    • Low monthly mortgage insurance
    • Low closing costs
    • No minimum contributions from buyer
    • No first time home buyer requirement
    • Gift funds allowed, including closing costs
    • Seller contributions allowed
  • Our mortgage bankers offer personalized service and are available to walk you through the home-buying process. Find a local mortgage banker using the link below or give us a call. If you have existing mortgage-related questions, call mortgage customer service at 866-910-5217.

    Find a Mortgage Banker

  • In addition to the calculated monthly payments, annual percentage rate (APR) offers a good apples-to-apples comparison between loans. APR takes into account the varying discount points, closing costs and fees that are typically added into the loan amount and financed over the term of the loan. If the fees are paid "out-of-pocket" then the APR will be the same as the stated interest rate. Use this loan comparison calculator to help determine the best loan option for you.

    Calculator

Additional Information

Apply with our online application. It walks you through the process and allows you to submit documents securely using your phone, tablet or computer. You also get 24/7 access to your loan in progress and a direct line of communication with your loan officer to make sure your loan stays on track for closing!

After your application is completed, your mortgage banker will contact you to answer any questions you may have and request items if they need additional documentation.

Apply Online

Once everything is finalized, we'll send you the application package. This package will contain papers for you to sign and a list of items we'll need to verify the information you provided about your finances during the online application.

After we have your deposit, we'll order an appraisal from a licensed appraiser who is familiar with home values in your area.

You'll also need to obtain title insurance. If you are purchasing a new home, we'll work with the real estate broker or seller to ensure the title work is ordered as soon as possible. If you are refinancing, we'll take care of ordering the title work for you.

After we receive all your paperwork — your application package, the appraisal and the title work — we'll contact you to schedule your loan closing. If you are purchasing a home, we'll also schedule the closing with the real estate broker and the seller.

The closing will take place at the office of a title company or attorney in your area who will act as our agent. A few days before closing your Mortgage Banker will contact you to walk through the final information.

Ready to Get Started?

Find a local mortgage banker using the link below or give us a call. If you have existing mortgage-related questions, call mortgage customer service at 866-910-5217. For new loan or refinance inquiries, call 888-664-2135. We’re here to help.