Rural housing mortgages, also known as USDA mortgages, are 100% federally insured by the US Dept. of Agriculture. This loan is for potential homebuyers who are seeking property in rural areas is more lenient toward those with less-than-perfect credit.
BENEFITS OF A USDA MORTGAGE
- No down payment required
- Mortgage insurance is less costly
- No penalties for paying loan early
- No minimum requirement for residence
- Interest rates are some of the lowest available
