Buying in Harrison with little to no money down? If you are shopping for a primary home in Boone County, a USDA loan could be a smart path. The program focuses on rural-eligible areas and income-qualified households, which fits much of the Ozarks. In this guide, you will learn how USDA loans work in Harrison, who qualifies, what property types are allowed, and the steps to get started. Let’s dive in.
USDA loan basics in Boone County
USDA offers two main single-family programs that help eligible buyers become homeowners. Each has its own rules for income, underwriting, and how the loan is issued. Both are designed for primary residences, not investment or vacation homes.
Two programs to know
- USDA Guaranteed Loan Program. These loans are made by approved private lenders and backed by USDA Rural Development. Review program details on the USDA’s official Guaranteed page for how the guarantee works and who it serves. You can learn more on the USDA’s page for the Single-Family Housing Guaranteed Loan Program.
- USDA Direct Home Loans. These loans are made directly by USDA to very low and low income applicants. Interest rates may be subsidized based on income. See the USDA’s page for Single-Family Housing Direct Home Loans.
Key benefits and limits
- Many USDA guaranteed loans offer 100 percent financing for eligible borrowers, which means no required down payment.
- You must live in the home as your primary residence.
- Rates, fees, and underwriting vary by lender for guaranteed loans. Direct loans follow USDA rules and are administered by the agency.
Where to learn more
For a full overview of USDA’s single-family programs, visit the USDA Single-Family Housing Programs page.
Eligibility in Harrison and Boone County
USDA eligibility has two pillars: where the property is located and your household income. Lenders also review credit history, debts, and your ability to repay.
Location eligibility: check the map
USDA loans are available only in eligible rural areas. Eligibility is determined for each property address. Enter the exact address on the official USDA property eligibility map to confirm whether that home qualifies. Many areas in Arkansas are commonly eligible, but you should always verify a specific address in or near Harrison.
Income limits by household size
USDA sets county-level income limits that change by household size and program. Your adjusted household income must be at or below the limit for Boone County. Use the same USDA eligibility site to view current income limits for your household size.
Credit and underwriting expectations
USDA does not publish one national minimum credit score for all cases. Approved lenders set their own minimums for guaranteed loans, and many prefer a mid-600s score for automated approvals. Lenders evaluate debt-to-income ratios, job history, stable income, and reserves. USDA guaranteed loans include an upfront guarantee fee and an annual fee, so confirm current amounts with your lender.
Citizenship and occupancy
Borrowers must be a U.S. citizen, U.S. non-citizen national, or qualified alien under program rules. The home must be your primary residence after closing.
What you can buy with a USDA loan
USDA loans are meant for modest, primary residences. In Boone County, that can include a range of home types that meet program and lender standards.
Eligible home types in Boone County
- Single-family detached homes, including existing homes and certain new construction, if they will be your primary residence.
- Condominiums or planned-unit developments if the project meets USDA standards and is acceptable to the agency.
- Modular or factory-built homes that meet HUD, state, and USDA standards and are installed on a permanent foundation and titled as real property under Arkansas law.
- Homes on modest acreage, as long as the land is typical for the area and the primary use is residential.
Properties that usually do not qualify
- Investment properties, vacation homes, or any property you will not occupy as your primary residence.
- Properties primarily used for commercial or income-producing agricultural purposes.
- Manufactured homes that are not permanently affixed or that do not meet construction or state real property requirements.
- Any property located outside a USDA-eligible area based on the address map.
Condition, appraisal, and acreage
USDA loans require an appraisal. Homes must meet minimum property standards for safety and livability. Repairs that affect health or habitability are often required before closing or handled through approved repair escrows when allowed. Acreage can be acceptable if typical for the area and not focused on income-producing farming. Ask your lender about guidelines for a specific property.
Steps for Harrison buyers
Here is a simple path to move forward on a USDA loan in Harrison and Boone County.
Quick workflow
- Check the address on the official USDA property eligibility map.
- Review Boone County income limits for your household size on the same USDA site.
- Contact a lender that regularly originates USDA guaranteed loans and complete pre-qualification.
- Provide documents so the lender can verify income, credit, and assets, then the lender orders an appraisal and submits required USDA paperwork for the guarantee.
- Complete any required repairs or inspections, obtain final approval, and close.
Questions to ask a lender
- Do you originate USDA guaranteed loans in Boone County and how many have you closed recently?
- What minimum credit score and debt-to-income ratio do you use?
- What are today’s USDA guarantee fees and typical closing costs for my situation?
- How long does it usually take from application to closing for a USDA loan?
- Do you handle USDA Direct loans or only Guaranteed loans, and what does that process look like?
Pre-qualification checklist
Use this quick list to save time and keep your application moving.
- Verify address eligibility. Check the USDA map and save a copy of the result for your lender.
- Confirm income eligibility. Use the USDA tool to view Boone County limits for your household size.
- Gather documents. Photo ID, Social Security number, last two pay stubs, W-2s for the past two years, and tax returns if self-employed or if requested by the lender.
- Show assets. Recent bank statements for the last two to three months and any retirement accounts if needed.
- Employment details. Provide work history and employer contact information.
- Be ready to discuss. Household size, debts, student loans, child support, and any recent bankruptcies, foreclosures, or short sales.
Local contacts and resources
- Arkansas USDA Rural Development office. For program guidance and local contacts, visit the USDA RD Arkansas state page.
- Eligibility map and income tool. Confirm whether a Harrison or Boone County address is eligible on the USDA eligibility map.
- Program details. Learn about both USDA single-family options on the single-family housing programs page.
Make your move with local guidance
A USDA loan can open the door to homeownership in and around Harrison if the home and your household meet eligibility rules. Your next step is to confirm the address, check income limits, and talk with a lender that regularly closes USDA loans in Boone County. If you want help finding the right property and coordinating the process from contract to close, connect with a local pro who knows the terrain and the lenders who do this every day. For a neighborly, full-service approach, reach out to Jeff Pratt.
FAQs
What is a USDA loan and how it applies in Harrison?
- A USDA loan is a government-backed mortgage for primary homes in eligible rural areas, and many addresses in and around Harrison may qualify after you check the official map.
Do I need a down payment for a USDA loan in Boone County?
- Many USDA guaranteed loans offer 100 percent financing for eligible borrowers, so no down payment may be required depending on your qualifications.
How do I check if a Harrison address is USDA eligible?
- Enter the exact property address on the official USDA eligibility map and review the result for that location.
Can I use a USDA loan on a home with acreage near Harrison?
- Yes, if the acreage is typical for the area and the primary use is residential, but large or income-producing farmland can make a property ineligible.
Are manufactured homes and condos allowed with USDA loans in Arkansas?
- Possibly, if they meet USDA and state standards, are on a permanent foundation, and for condos if the project is acceptable to USDA; lenders may add their own requirements.
Can I buy inside Harrison city limits with a USDA loan?
- Possibly, because eligibility is based on USDA’s rural map rather than city limits, so you must verify each specific address on the map.
What fees should I expect on a USDA guaranteed loan?
- USDA guaranteed loans include an upfront guarantee fee and an annual fee charged monthly; ask your lender for today’s amounts and how they affect your payment.
How do income limits work for households with multiple earners?
- USDA considers household income and provides guidance in the eligibility tool; your lender can help calculate adjusted income for the correct Boone County limit.
