USDA Loans
USDA Loans in Indiana
Buying a home with zero down payment is not a myth. If you are purchasing in a USDA-eligible area outside the Indianapolis core, you may qualify for a USDA Rural Development guaranteed loan, one of the best-kept financing tools available to Indiana buyers. No down payment. Competitive fixed rates. Mortgage insurance costs that run lower than FHA. Tevis and the Durbin Team have helped buyers across Hamilton County and the surrounding counties navigate USDA eligibility for over 26 years, and they will do the same for you.
Who it fits
- First-time buyers who want to preserve their savings and still own a home outright from day one.
- Move-up buyers targeting towns and suburban pockets that fall inside USDA-eligible boundaries, including parts of Hamilton, Hancock, Boone, Hendricks, Madison, and Shelby counties.
- Buyers considering communities like Sheridan, Cicero, Atlanta, or other towns on the outer ring of greater Indianapolis where eligible properties are plentiful.
- Households whose income fits within USDA guidelines, which vary by county and household size. Many working families in the area qualify.
- Anyone who wants a fixed-rate, predictable monthly payment without the burden of saving up tens of thousands of dollars before closing.
How it works
USDA loans are backed by the U.S. Department of Agriculture through its Rural Development guaranteed loan program. Because the government guarantees a portion of the loan, lenders can offer 100% financing to qualified buyers at competitive fixed rates. That means your loan covers the full purchase price of the home, and you can bring far less cash to closing than a conventional purchase would require.
There are two mortgage insurance components. An upfront guarantee fee is rolled into the loan balance, so you do not need to pay it out of pocket at closing. An annual fee, paid monthly, is added to your mortgage payment. Both fees are structured lower than the mortgage insurance on a comparable FHA loan, which is one reason USDA financing can produce a lower monthly payment than many buyers expect.
The loan must be used to purchase a primary residence. Investment properties and vacation homes are not eligible. The property itself must be located in a USDA-designated eligible area, and your household income must fall within the limits for your county and family size. Those thresholds are set by the USDA and are updated periodically. The Durbin Team runs both checks for you upfront so there are no surprises later.
What you need to qualify
- A credit score in the range of 640 or above is the typical minimum, though the full picture of your credit history matters too.
- Household income within USDA limits for your county and household size. Tevis will pull the current figures for your specific situation.
- The property must be in a USDA-eligible area. Many neighborhoods and towns throughout Hamilton County and the counties surrounding Indianapolis qualify even though they feel suburban. The map is broader than most buyers assume.
- The home must be your primary residence. You must plan to live there, not rent it out.
- A reasonable debt-to-income ratio. Lenders look at how your total monthly debt obligations compare to your gross monthly income, and the Durbin Team will walk you through where you stand before you start shopping.
- Standard documentation: employment history, tax returns, pay stubs, and bank statements. The same paperwork any mortgage requires.
If you have been waiting to buy because a down payment feels out of reach, USDA financing may be the program that changes the math entirely. Tevis and the Durbin Team are based in Fishers and know the eligibility boundaries across greater Indianapolis inside and out. They will check your property, run your income numbers, and tell you quickly whether USDA is the right fit or whether another program serves you better. Reach out to the Durbin Team to get started. NMLS #424899.
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