USDA Loans

Rural Development loans are primarily used to help low-income individuals or households purchase homes in rural areas. Primarily those who may face multiple barriers to homeownership. Guaranteed loans are flexible to accommodate buyers who need financing, expanded ratios to qualify, and flexible credit guidelines.

USDA Rural Development Benefits:

  • 100% LTV financing with no mortgage insurance.
  • No down payment required if funds are not available.
  • Payment Assistance may reduce the effective interest rate, thus reducing the monthly payment.
  • Note interest rate is fixed.
  • Some closing costs may be included in the loan.
  • Private Mortgage Insurance (PMI) is not required.
  • Funds may be used to construct a new home or buy an existing home.
  • Real Estate Taxes and Insurance are escrowed.