Rural Housing Loan

rural housing 300x198 Rural Housing Loan

loan rural housing Rural Housing LoanRural Housing (RDA) Loan

 


Loan terms: 30 year loans
Interest rate types: Fixed
Loan types: Purchase, Refinance
Property type: Primary Residence

The Rural Housing loan is a federal program offered through the United States Department of Agriculture (USDA). It is designed to help borrowers with low-to-moderate income obtain home financing in specified rural areas. The program has an upfront guarantee fee of 3.5% (which can be financed into the loan) and has no monthly mortgage insurance. This is a great loan for those seeking to avoid monthly MI and obtain financing in a rural area. Income and property location restrictions apply- see below for more details.

  • Available for properties in specified rural areas (click here to see eligibility map)
  • No down payment required
  • Flexible qualification guidelines
  • Financing up to 103.5% of the appraised value
  • Requires up-front guarantee premium, but no monthly MI
  • Maximum income limits vary by county (click here for details)

Click here to apply for a Rural Housing (RDA) loan