Ensuring that all Iowans living in rural communities have access to decent, safe and affordable housing has been a top priority at USDA Rural Development for nearly 50 years. To meet the diverse needs of rural residents, USDA Rural Development has a variety of programs available for houses.
To determine the full range of options available please visit the United States Department of Agriculture website or contact a highly qualified real estate lending consultant.
There are many advantages and requirements for obtaining a USDA Rural Development home loan including:
- 100% financing available
- No sales price restrictions
- Seller allowed contributions
- Closing costs may be financed if the appraised value is higher than the sales price
- Competitive interest rate
- Minimum 640 FICO required
- Property must be located in an eligible rural area of Iowa, Illinois or Wisconsin
- Income restrictions apply