The USDA Rural Development loan is designed to make rural housing more affordable. No down payment or monthly insurance required is required with USDA loans.
What are USDA Rural Development Loans?
USDA home loan programs are primarily designed to help lower income individuals or households purchase homes in rural areas. USDA Rural Development funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.
Eligibility for the USDA Rural development loan program is dependent upon income and property location. Applicants for USDA loans may have an income of up to 115% of the median income for the area. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance. In addition, USDA applicants must have reasonable credit histories.
*INLANTA MORTGAGE, INC. NMLS #1016. BORROWERS SUBJECT TO CREDIT APPROVAL. PROGRAMS SUBJECT TO CHANGE WITHOUT NOTICE. THIS IS NOT AN OFFER TO GRANT CREDIT OR A COMMITMENT TO LEND. INCOME AND PROPERTY RESTRICTIONS APPLY. INLANTA MORTGAGE, INC. IS A USDA APPROVED LENDER BUT IS NOT AFFILIATED WITH THE UNITED STATES DEPARTMENT OF AGRICULTURE OR ANY OTHER GOVERNMENT ENTITY.