Question 1

Can I use USDA financing on any Wheatland property?

Accepted Answer

Most single-family homes in Wheatland qualify, but some newer in-town subdivisions may fall outside USDA zones. Check the USDA eligibility map before making an offer.

Question 2

Does USDA really require zero down payment?

Accepted Answer

Yes, USDA finances 100% of the purchase price. You still pay closing costs, but those can be covered by seller credits or rolled into the loan with appraisal support.

Question 3

How do income limits work if I'm self-employed?

Accepted Answer

USDA uses your adjusted gross income from tax returns, averaging the past two years. All household members over 18 count, even if they're not on the loan.

Question 4

Which program has lower closing costs?

Accepted Answer

Similar closing costs, but USDA's 1% upfront fee is lower than FHA's 1.75%. USDA's monthly fee also runs cheaper at 0.35% versus FHA's 0.55%-0.85%.

Question 5

Can I refinance out of FHA mortgage insurance later?

Accepted Answer

Yes, you can refinance to conventional once you hit 20% equity. That's the only way to drop FHA's mortgage insurance on loans originated after 2013.

FHA vs USDA Loans in Wheatland: Which Government Program Fits Your Budget?