USDA Home Loans
United States Department of Agriculture Rural Development (USDA RD) offers programs to help individuals with low to moderate incomes, living in eligible rural areas become homeowners. The Rural Development program helps qualifying applicants, who cannot receive credit from other sources, purchase modestly priced homes as their primary residence.
USDA Home Loan advantages include:
- Minimal closing costs
- Low down payment required
USDA loans can be used for the purchase of a house that is in need of renovations or a new build. Families must be able to pay their monthly mortgage, homeowner’s insurance, and property taxes.