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Minnesota USDA Loan Eligibility

Income Eligibility

Contrary to other home loan programs USDA has maximum amount of money a household can make in a single year. The USDA income limit is determined by the average income earned in a specific county. 

The household income limit in Minnesota is $112,850 for a household of up to 4 people. If the household has 5 or more people, the Minnesota USDA income limit is $148,950. 

Minnesota has different income limits for every county. The income limit is based on the average household income in the area. 

You can fill out the USDA Eligibility form to see if you qualify for a Minnesota USDA loan. 

USDA loans are eligible for new or existing homes in USDA eligible areas. Although the majority of Minnesota qualifies for USDA lending, make sure to check the property eligibility tool to verify property eligibility. 

Here is the direct link to USDA’s website to verify the USDA income limits in Minnesota.

Minnesota USDA Loan Benefits

Do you have a specific question? To speak to a USDA loan specialist fill out the USDA Eligibility Tool.

What Areas in Minnesota are USDA Eligible? 

Minnesota USDA Property Eligibility Map

USDA Ineligible Areas
Minnesota USDA Eligibility Map

The shaded areas are NOT eligible for USDA financing. USDA has determined the population density to be too high for USDA financing. 

USDA Frequently Asked Questions

What Banks Offer USDA Financing?

Most reputable mortgage lenders or banks will offer USDA Home loans for first time homebuyers. The majority of the product guidelines are very similar to FHA. So.. If you find a bank that offers FHA loans it is likely they will also offer USDA loans.

What Are USDA Loans and How Do They Work?

USDA loan is a rural housing loan backed by the department of agriculture. The loan provides no money down financing for first time homebuyers with low interest rates and minimal fees. 

Is it Hard to Get Approved for a USDA Loan?

Its not hard at all. If the property is located in an eligible area and your income falls below theUSDA Median income limits, chances are you qualify ! 

Are USDA Loans Any Good?

I consider USDA loans to be the best available loan product for first time homebuyers. Granted VA Loans have some advantages that USDA does not but you also have to be a veteran. For the general public, USDA is still the best loan program available.