What USDA Rural Development loans offer that you won't find in other loans including:

No First-Time Buyer Requirement

The Rural Development Loan is available to borrowers in need of housing even when they have owned a home in the past.

Flexible Credit Criteria

The Rural Development Loan offers manual underwriting that benefits borrowers who have not yet established credit or who suffer from lagging credit scores despite a sustained recovery from past difficulties.


No Down Payment

The Rural Development Loan offers financing up to 100 percent of the appraised value of the property. Therefore, a down payment is not required.

Financed Settlement Costs

The Rural Development Loan amount (based on value) above the purchase price may be used to pay related insurance premiums, loan closing costs, escrow deposits, and incidental expenses. With no down payment and financed settlement costs, borrowers can acquire homes with little or no money.

Manufactured/Modular Homes, Townhomes, and Condos Eligible

The Rural Development Loan allows for financing on stick-built, modular (UBC) and new manufactured (HUD) homes. Townhomes and approved condos are also eligible property types.



No Monthly Mortgage Insurance Premiums

Unlike other government and conventional loan programs, there are no monthly mortgage insurance premiums on the Rural Development Loan. This significantly lowers the total monthly housing payment.