The Rural Loan is a niche mortgage product in the U.S. housing market and most mortgage lenders don’t offer it. At Moneyhouse, we know rural lending! We know every situation needs a solution and the Rural Loan may be the answer.

The program’s full name is the USDA Rural Development Guaranteed Housing Loan Program, but most people call them “USDA loans”, “Rural Housing Loans” or “Section 502 loans”.

The Rural Loan program was created in 1991 to improve rural homeownership options and not all areas covered by the Rural Loan are actually rural. Rural loans are insured by the U.S. Department of Agriculture and let you finance 100% of a home’s purchase price through the USDA while getting access to competitive fixed interest mortgage rates. USDA mortgage interest rates are often discounted as compared to other low, down payment loans. Rural Loans are offered with fixed rate options. Adjustable Rate options are not available.

The Moneyhouse Rural Loan features include

  • First time and repeat homeowner eligibility
  • 100% LTV based the present value of the property or appraisal
  • Competitive fixed rates
  • No down payment required
  • Reasonable closing costs and fees
  • No monthly mortgage insurance payments
  • No prepayment penalty
  • No down payment required
  • Monthly payments for specific terms only – no balloon payments
  • Eligible closing costs, fees and charges may be included
  • Rural and some suburban areas eligible

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Not all programs, references, products, options and terms indicated are available in all states. Terms, features and benefits for specific loan programs and information provided are subject to change without notice. This information is not a loan commitment, loan approval, or offer to lend. Individual and property specific program qualification guidelines including borrower and property eligibility should be discussed with a professionally licensed Moneyhouse Mortgage Loan Originator. You are encouraged to seek professional services assistance for accounting, legal and real estate matters relating to your contemplated transaction. Some programs referenced may require specific 3rd party or designated housing counseling requirements. For refinance programs, program imitations may include cash-out options and loan-to-value – refer to specific program guidelines offered by your professionally licensed Moneyhouse Mortgage Loan Originator for more details. For purchase transactions, property value is determined as the lesser of the final purchase price or the adjusted appraised value – refer to specific program qualification and eligibility guidelines offered by your professionally licensed Moneyhouse Mortgage Loan Originator for more details. Programs and products noted may require the payment of upfront, annual and/or monthly private mortgage insurance premiums and/or mortgage insurance payments. Not all programs will provide proceeds sufficient to pay off outstanding debts and liens filed of record. Other restrictions may apply. These materials and information are not from or approved by HUD/FHA. The Money House, Inc., is an Equal Housing Lender.