Blog > Can You Buy a Home With No Money Down in Terrebonne Parish? Yes — Here's How.

Can You Buy a Home With No Money Down in Terrebonne Parish? Yes — Here's How.

by Brook Freeman

Home Buying in South Louisiana

Zero Down? Yes, Really.

USDA Loans in Terrebonne & Lafourche Parish — Everything You Need to Know

Brook Freeman, REALTOR®LPT Realty, LLCServing Houma, Thibodaux & Beyond

If you've been sitting on the sidelines because you think you need 10–20% down to buy a home, I want you to read this. There's a loan program that most buyers in our area have never heard of — and it's one of the best tools out there.

It's called the USDA Rural Development loan, and yes — it really does offer zero down payment for qualified buyers. I'm Brook Freeman, a REALTOR® with LPT Realty. I work with a lot of first-time homebuyers in Terrebonne and Lafourche Parish, and USDA loans come up constantly. Let me break it all down.

The Basics

What Is a USDA Rural Development Loan?

The USDA loan is a mortgage backed by the U.S. Department of Agriculture. Despite the name, you do not have to buy a farm. It's designed to help moderate- to low-income buyers purchase homes in eligible rural and suburban areas — and a large portion of Terrebonne and Lafourche Parish qualifies.

No down payment required — 100% financing
Competitive fixed interest rates
Lower mortgage insurance costs than FHA
Works for existing homes and new construction
Closing costs can sometimes be rolled in or covered by the seller
Not limited to first-time homebuyers

Official program information & resources:

USDA Guaranteed Loan Program Check Property Eligibility Map

Requirements

Do I Qualify for a USDA Loan in Louisiana?

There are two main boxes to check — location and income. Here's what you need to know:

1. Location Eligibility

The property must be in a USDA-eligible area. Good news — much of Terrebonne and Lafourche Parish qualifies, including many neighborhoods that don't "feel" rural at all. You can check any address using the USDA's official map below, or just send me the address and I'll check it for you.

Check Your Address on the USDA Map

2. Income Limits

USDA loans have household income limits based on your parish and family size. In Terrebonne and Lafourche, limits are generally in the $110,000–$145,000+ range depending on household size — and these update periodically. Check the current limits for Louisiana using the link below.

USDA Income Eligibility Guidelines USDA Program Overview

3. Credit & Financial Requirements

Minimum credit score typically 640+ (some lenders work with lower)
Stable income and employment history
Debt-to-income ratio within program limits
Must be a primary residence — no investment properties or vacation homes
U.S. citizen or eligible non-citizen

Setting the Record Straight

Common USDA Loan Myths — Busted

"I have to buy farmland."

Nope. Most USDA buyers purchase regular single-family homes in suburban neighborhoods. The program is about location eligibility, not property type. No tractors required.

"It takes forever to close."

USDA loans do have an extra approval step through the USDA office, which can add some time. But with an experienced lender and a prepared agent, closings happen on reasonable timelines — typically 45–60 days.

"Only very low-income buyers qualify."

Not true. Moderate-income families absolutely qualify. The program was designed to make homeownership accessible — not just for the lowest income brackets. Many working families in our area are eligible.

"There are no homes in eligible areas near Houma."

False. Large portions of Terrebonne and Lafourche Parish are USDA-eligible. Check the map — you might be surprised how many properties qualify, including neighborhoods you'd never consider "rural."

Side by Side

USDA vs. FHA — Quick Comparison

Both are popular with first-time buyers in Louisiana. Here's how they stack up so you can see which might fit your situation better.

	USDA Loan	FHA Loan
Down Payment	0%	3.5%
Mortgage Insurance	Lower cost	Higher cost
Location Restriction	Yes — eligible areas only	No restriction
Income Limit	Yes	No
Minimum Credit Score	640+	580+
First-Time Buyer Only?	No	No
Primary Residence Only?	Yes	Yes

If you qualify for USDA and the home is in an eligible area, it's usually the better deal — lower monthly costs and no down payment. But every situation is different. Reach out and we'll figure out what makes sense for you.

Common Questions

Frequently Asked Questions

USDA Loans in Terrebonne & Lafourche Parish

Can I use a USDA loan to buy a home in Houma, LA? −

Parts of Houma and the surrounding areas of Terrebonne Parish are USDA-eligible. Eligibility is based on the specific property address, not just the city name. The best way to check is the USDA eligibility map — or just send me the address and I'll look it up for you.

What are the USDA loan income limits for Terrebonne Parish? +

Income limits vary by household size and are updated periodically by the USDA. For a household of 1–4 people in Terrebonne Parish, limits are generally $110,000+. Larger households may qualify with higher incomes. Always verify current numbers with a USDA-approved lender or check the official USDA income guidelines.

What are the USDA loan income limits for Lafourche Parish? +

Lafourche Parish follows similar USDA income guidelines to Terrebonne. Check the USDA income eligibility document for current numbers, or reach out to me and I'll connect you with a local lender who works these loans regularly.

Can I buy a house with no money down in Terrebonne or Lafourche Parish? +

Yes — if you qualify for a USDA Rural Development loan and the property is in an eligible area. Some buyers also pair it with seller concessions or down payment assistance programs to cover closing costs, making it possible to get into a home with very little out of pocket.

Does USDA cover Thibodaux or Lockport, LA? +

Portions of Thibodaux, Lockport, and the surrounding Lafourche Parish area may qualify for USDA financing. Eligibility is property-specific, so the address needs to be verified on the USDA eligibility map.

How long does it take to close on a USDA loan in Louisiana? +

Plan for 45–60 days. USDA loans require an additional approval step through the USDA Rural Development office, which adds some time compared to conventional loans. Working with an experienced lender who knows the process helps keep things on track. I can refer you to lenders who work USDA loans in our area regularly.

What credit score do I need for a USDA loan? +

Most USDA-approved lenders look for a minimum credit score of 640. Some lenders may work with scores below that, but the process becomes more manual. If your credit needs some work before you're ready, reach out — I can point you in the right direction.

Can I use a USDA loan if I've owned a home before? +

Yes. USDA loans are not limited to first-time homebuyers. You just need to meet the income and location requirements, and the home must be your primary residence. You also generally cannot own another adequate home at the time of purchase.

Is USDA better than FHA for Louisiana buyers? +

It depends on your situation. USDA offers zero down payment and typically lower monthly mortgage insurance, but has location and income restrictions. FHA requires 3.5% down but has no geographic limits. If you qualify for USDA and the home is in an eligible area, it's usually the better financial deal — but both options are worth comparing with a lender.

How do I find out if a specific address qualifies for USDA in Louisiana? +

You can check directly at the USDA Property Eligibility Map — just enter the address and it will tell you instantly. Or send me the address and I'll check it for you. I do this regularly for buyers.

Who is a good REALTOR® for USDA loans in Houma, LA? +

I'm Brook Freeman with LPT Realty — I've been helping buyers in Terrebonne and Lafourche Parish for over 10 years and work with USDA/Rural Development loans regularly. I can walk you through the entire process and connect you with lenders who specialize in USDA financing in our area. Visit brookfreeman.com to get started.

Ready to Find Out If You Qualify?

I help buyers in Terrebonne and Lafourche Parish navigate USDA loans, FHA, and everything in between. Let's talk — no pressure, no commitment. Just straight answers.

Get In Touch →

Brook Freeman · REALTOR® · LPT Realty, LLC · brookfreeman.com

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