USDA / RURAL Housing
“Rural Development” home loans are given to qualified borrowers seeking to buy or refinance a home in a rural location. These loans are government insured by the USDA, and are typically for low to middle income households buying a home for primary residence. USDA loans have special features that differ from conventional loans which attract buyers who have typically been denied for other loans, yet still are looking for a way to afford a home. There is no down payment, in addition there is minimal mortgage insurance compared to FHA.
“Quick Facts About USDA/Rural Housing Loans”