What Is a USDA Loan?
A USDA loan — officially called the USDA 502 Guaranteed Rural Housing Loan Program — is a government-backed mortgage designed to make homeownership more affordable for low- to moderate-income borrowers in rural areas. With no down payment required, lower interest rates, and flexible credit standards, USDA loans open the door to homeownership for families who might otherwise be priced out.
Key Benefits of a USDA Loan
- No down payment required – one of the last programs in the U.S. with zero down options
- Flexible qualifications – easier approval standards compared to conventional loans
- Forgiving credit requirements – strong credit helps, but isn’t a strict barrier
- Low interest rates – save money over the life of your loan
- Lower mortgage insurance costs – no private mortgage insurance (PMI) required
- No cash to close – closing costs may be gifted, covered by the seller, or financed into the loan
Who Qualifies for a USDA Loan?
To be eligible, borrowers must:
- Meet income limits for their area (generally 115% of the local median income)
- Be a U.S. citizen or legal resident
- Purchase a home in a USDA-designated rural area (many suburban areas may qualify)
- Plan to live in the home as a primary residence
Did you know? Nearly 97% of U.S. land qualifies as “rural” under USDA guidelines. Many buyers are surprised to find that communities just outside larger cities often meet the requirements.
Why Consider a USDA Loan in Florida?
For buyers in Vero Beach and across the Treasure Coast, USDA loans provide a realistic path to owning a home without the burden of a large down payment. This makes them especially attractive for first-time buyers or families working to get established in a growing community.
Your Guides Through the Process
Tim and Liz Serratt specialize in helping buyers explore every available option — including USDA loans. They’ll walk you through eligibility, help you navigate the paperwork, and ensure you find a financing solution that fits your goals.
Take the First Step Toward Homeownership
If saving for a down payment has held you back, a USDA loan could be the solution. Tim and Liz are here to help you explore your options and get pre-approved.
Disclaimer: For zero down payment programs, closing costs, prepaid items and escrows are still required and may be paid by the borrower, seller or other permitted sources. Subject to credit approval, income and asset verification, property eligibility and specific program guidelines (including service, income and location requirements, where applicable). Not all borrowers or properties will qualify.
What our Clients say
Trusted by families across the Treasure Coast.
I wanted to take a moment to thank Tim Serrat and the Contour Mortgage Team for the excellent job they did leading to purchase of my new home in Satellite Beach. Tim did an outstanding job from day one. He got me the best finance rate, explained the entire process and walked me through every step of the way. Everything happened exactly like he promised with no surprises. Tim was super responsive answering calls and clarifying any questions. To top it off he connected me with the home insurance company that ended up providing the best quote and coverage I could find. I highly recommend Tim Serrat and Contour Mortgage to anyone looking to finance or re-finance their home.
From the very first meeting with Tim I could tell he truly listened and cared about my situation he made the whole process of applying for a mortgage seem pretty easy even though I’m a single mom and the last time I bought a house was 10 years ago! Everybody at Contour mortgage is kind and helpful so glad I trusted first Scott and Janice Reynolds to even believe it was possible and then Tim made it a reality!!! Thank you to Sarah my realtor she’s a sweetheart looking at houses can be exhausting but we did it together smiling even laughing sometimes at the process of trying to find the right house for me. I highly recommend Contour Mortgage excellent team!!
I recently relocated from New York to purchase a home in Vero Beach, and Tim Serratt from Contour Mortgage came highly recommended. I’m so glad I was connected with him — he was absolutely fantastic to work with from start to finish.
Tim has a calm, reassuring demeanor that immediately put me at ease. He is incredibly knowledgeable and walked me through every step of the mortgage process with patience and clarity. Buying a home from out of state can be stressful, but Tim truly held my hand throughout the entire journey and made everything feel manageable.
If you’re looking to purchase a home in Florida and want a mortgage professional who is both skilled and genuinely supportive, I highly recommend working with Tim.