USDA Home Loan Options for Polk County for 2023!

In the video Ben goes over some of the pros and cons of USDA loans. We will cover that more in depth here on this blog post for you!


USDA loans are a government backed 100% financing loan option for rural areas in the US. Here in Polk County, Florida many homes qualify. If you are interested in checking to see if the home you are looking at qualifies go to the Eligibility Checker and enter the address. 

USDA loans are for primary residences only, multifamily does not qualify. You can only buy a primary residence such as a home, condo, townhome, or manufactured home. No duplexes, triplexes, or quads qualify. 

Browse USDA eligible homes for sale!

The minimum credit score is typically 640, but that depends on other factors as well and we can connect you with a lender to discuss the right loan for you. 

The maximum household income for 2023 to qualify for a USDA loan is $103,500. If your combined household income is greater than that you are not eligible for a USDA loan. 

Another pro for USDA loans is that they typically have a slightly lower interest rate, but that will depending on your credit score and financial situation. 

USDA loans also do not carry a prepayment penalty so you can pay them off early or make extra payments without penalties and fees. 

A large pro to these loans (aside from requiring no down payment) is that they will accept up to 6% of the purchase price back as a seller credit to go towards your closing costs. So if you are purchasing a home for $200,000, you could recieve as much as $12,000 to go towards your closing costs. Often times the seller agrees to giving that back with a raised purchase price to offset some of it.

For example you might offer $206,000 on the $200,000 list price but ask for the 12,000 back. This is a better offer, but every situation is different and doing this you also have to worry about appraisal issues. 

If you are interested in seeing if this may be a fit for you to get into your first home give us a call at 863.333.5053!