USDA/Rural Development Loans

Much like HUD and the VA, the US Department of Agriculture provides a mortgage loan guarantee program called Rural Development. This is NOT limited to homes in the woods, or on farms. In fact, most towns in New Hampshire are eligible for the program.

It offers 100% financing to qualified borrowers, at very low interest rates, and with very low mortgage insurance premiums. If you are buying a home in an eligible area, and meet the program requirements, the combined cash required at closing and monthly payment is difficult to beat with any other loan program.

Some highlights:

  • Requires no down payment, and closing costs can be financed up to the appraised value.
  • Flexible credit requirements.
  • Available for single-family, primary residence homes only.
  • You do not neet to be a first time home buyer, but you cannot own another home at the same time.
  • There are income limits for the program, that vary slightly by county.
  • House must be in an RD-eligible area. The quick lookup map can be found  here.

To learn more about the benefits of an RD loan, just complete the form on the right, and we’ll be glad to answer your questions.