Rural Housing Loans
Also known as USDA Loans
USDA loan program, also known as Rural Housing loan, is a type of government-insured home loan that allows the borrower to purchase a new home with no down payment. USDA loans are generally fixed rate loans.
Requirements and Benefits of a Rural Housing Loan:
Requirements
- Requirements
- O% down payment
- Property must be in a qualifying area
- Income limits may apply based on household size
- Additional underwriting requirements will vary by borrower situation
Benefits
- USDA loans do not require a down payment
- Homebuyers may finance a home for 100% of the purchase price