USDA Home Loans in North Carolina and South Carolina

A USDA loan is a government-backed mortgage for buyers in eligible rural areas that requires no down payment. Household income must be at or below 115% of the area median, the home must be your primary residence, and USDA charges a 1% upfront and 0.35% annual guarantee fee instead of mortgage insurance.

Benefits of USDA Loans

Find the perfect home loan

Interest Rates

Fixed Interest Rates

Down Payment

No Down Payment*

loans icon

Seller Can Pay Closing Costs

affordabe 30 year loan plan

Affordable 30-year Loans

*USDA Guaranteed Rural Housing loans subject to USDA-specific requirements and applicable state income and property limits.

Find out what you qualify for.

USDA Loan Requirements

  • Minimum USDA credit score?
    • 620
  • Minimum Down Payment for USDA?
    • 0%
  • Income limits?
    • Varies depending on the county
  • Max loan amount?
    • Varies depending on the county
  • Must be outside of city limits.
    • Click here to view the areas you can qualify for a USDA

How to Get a USDA Loan With Fairway

Meet with a Loan Officer

Click the “Get Started” button on the top right corner of this page and fill out the form. Once receive your form, a Loan Officer will review it before reaching out to gather more information about your specific situation.

Get Pre-Approval

You will provide us with some documentation and start your application. We will use that information to provide you with a formal pre-approval letter so you know how much home you qualify for.

Start Looking for Your Dream Home

Now you can get with your Realtor to find your dream home and put in a strong offer. We provide a variety of different programs to help your offer stand out.

Learn more about USDA Loans

Frequently Asked Questions

A USDA loan (formally the USDA Section 502 Guaranteed Rural Housing loan) is a government-backed mortgage for buyers in eligible rural areas. It is issued by approved lenders like Fairway, is a 30-year fixed-rate loan, and allows a 0% down payment for qualified borrowers.

Buyers generally must buy a primary residence in a USDA-eligible area, have household income at or below 115% of the area median income, meet credit and debt-to-income requirements, and be a U.S. citizen, U.S. non-citizen national or qualified alien.

Fairway’s minimum credit score for USDA loans is 620. Lenders also review your debt-to-income ratio, payment history and employment, so a loan officer can tell you where you stand.

Yes. Household income generally must be at or below 115% of the area median income for your county. USDA counts income from all adult household members, so limits vary by county and household size. Use USDA’s income eligibility tool or ask a Fairway loan officer.

USDA charges an upfront guarantee fee of 1% of the loan amount, which can be financed, and an annual fee of 0.35% of the remaining balance, paid monthly. These replace traditional mortgage insurance. USDA sets the rates and they can change.

USDA guaranteed loans do not have a set maximum loan amount. Your limit is based on your income, debts and ability to repay, and the property must meet USDA’s eligibility requirements.

USDA determines eligibility by property location, not only by city limits. Use USDA’s property eligibility map or ask your loan officer to check an address before you make an offer.

Yes. USDA allows sellers to contribute toward your closing costs, up to 6% of the sales price. Your loan officer can confirm how that applies to your offer.

Ready to explore a USDA loan?
Speak with a Fairway mortgage planner today.

Call (704) 200-2325