As long as the barndominium falls within a USDA-eligible area, it is possible to do a one-time close USDA construction loan in order to build and finance a barndominium.
One of the biggest challenges of building or purchasing a barndominium is getting a loan for it. Lending requirements on home loans can be strict, and barndominiums are a specialty type of residential housing that not all lenders will approve.
Conventional loan lenders that do approve barndominiums may require a large down payment or a nearly perfect credit score. However, USDA loans are a handy alternative that helps you avoid the need for all that. USDA loans don’t require a down payment and have fairly lenient eligibility criteria. And the good news is that you can get a USDA loan for a barndominium as long as you meet the income limits and property requirements.