What is a USDA Loan?
The rural housing loan is a federal loan program that is used to help low income borrowers to purchase homes in rural areas. USDA Loans are for non-farm homeowners in rural areas and are also for rural housing development.
The United States Department of Agriculture’s (USDA) Rural Housing Service guarantees loans up to 100% financing for qualified customers living in rural areas around the country.
USDA Home Loan Benefits:
- 100% Financing Available – No down payment required.
- Low monthly mortgage insurance – you may qualify for a larger loan.