USDA Loans
Through the USDA Guaranteed Rural Housing Loan Program, low and moderate income individuals can qualify for a fixed-rate USDA mortgage with minimal out-of-pocket expense, and often without a down payment. The property must be in an eligible rural area; all of Franklin County, Missouri is currently eligible for USDA home loans. Already have a USDA loan and looking to refinance? We can help with that too.
Because the USDA has a mandate to provide opportunities for affordable homeownership in rural areas, these loans are a good choice for new households and first-time homebuyers (but that’s not a requirement). Additional information from the USDA on this 100% financed, no money down program can be found here.
Why choose a USDA loan?
✓ Down Payment: No down payment required
✓ Property Eligibility: Must be USDA eligible
✓ Income Limits: By county, state, and family size
✓ Applicable for: Primary residence only
Who can apply?
Please note that applicants must:
✓ Meet income eligibility
✓ Agree to personally occupy the dwelling as your primary residence
✓ Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien

Because USDA loans are backed by the federal government, there are certain guidelines regarding how the funds may be applied. Section 502 Guaranteed Loan funds may be used for:
- New or existing residential property to be used as a permanent residence. Structures can be detached, attached, Condos, PUDs, Modular, or Manufactured. (Cannot be an income-producing property). Closing costs and reasonable/customary expenses associated with the purchase may be included in the transaction.
- A site with a new or existing dwelling. No set acreage limits.
- Repairs and rehabilitation when associated with the purchase of an existing dwelling.
- Refinancing of eligible loans – for existing USDA borrowers only.
- Essential household equipment such as wall-to-wall carpeting, ovens, ranges, refrigerators, washers, dryers, heating, and cooling equipment if the equipment is conveyed with the dwelling.
- Site preparation costs, including grading, foundation plantings, seeding or sod installation, trees, walks, fences and driveways.
Working with United Bank of Union
United Bank of Union's mortgage professionals can help you find the loan that's right for you. Our commitment to personalized service ensures that your experience is not only seamless, but also tailored to your unique needs whether you're buying, refinancing, or renovating. When you choose to work with United Bank of Union, you are choosing to support your community and your neighbors.
With over 90 years of experience, you can trust that UBU will help you make the best decision when it comes to your home loan. All of United Bank of Union's loans are locally processed, providing a distinct advantage in convenience and turnaround time. Our knowledgeable team of local mortgage lenders are ready to get you in the door of your new home - contact us today!
Important Disclosures and Information:
This is a product offered at United Bank of Union. Your receipt of this material does not mean you have been prequalified or pre-approved for any product or service we offer. This is not a commitment to lend; you must submit additional information for review and approval. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms and conditions are subject to change without notice.
This is a product offered at United Bank of Union. Your receipt of this material does not mean you have been prequalified or pre-approved for any product or service we offer. This is not a commitment to lend; you must submit additional information for review and approval. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms and conditions are subject to change without notice.