(423) 232-5097 eastern8cdc@e8cdc.org

USDA Guaranteed Loans

The United States Department of Agriculture (USDA) Guaranteed Loan is for moderate- income applicants in rural areas who are unable to obtain adequate housing through conventional financing. Applicants may obtain 100% financing to purchase an existing home, purchase a site and construct a home, or purchase a newly constructed home located in a rural area. Mortgage payments are based on the household’s adjusted income. Households with a family size of four or less can earn up to $90,300 per year, and a family size of five or more can earn up to $119,200 per year.

How to Check for Property Eligibility

To be eligible for a USDA Guaranteed Loan the property must be deemed rural by the USDA. To see if a prospective property is rural visit the USDA Income and Property Eligibility Site. Once there select “Single Family Housing Guaranteed” and it will take you to a map where you can enter the address of the property.

Eastern 8 offers housing services for the 8 Northeastern Tennessee Counties of Carter, Greene, Hancock, Hawkins, Johnson, Sullivan, Washington and Unicoi.

Loan Information

Credit Score: A 620 credit score or an establishment of three alternative credit trade lines is required. 

Term: 30 years

Income Limits: Household 4 or under: up to 90,300; 5+: 119,200