Logo Rural Housing Loans

RDA Loans

What is a Rural Housing Loan?

This loan has many names. Its official name is the USDA Guaranteed Rural Housing loan.  It is, as its name suggests, guaranteed by the United States Department of Agriculture. It is designed to support growth in more rural areas, and because of this it is limited to areas designated by USDA as eligible. There are also household income limits for qualifying. The main advantages for this loan are again no down payment required, and you can finance the closing costs into your loan if the property is eligible for it. This loan is also lenient on little to no credit history. 

Benefits of a Rural Housing Loan

  • No down payment required.
  • Lenient on little or no credit history.
  • No maximum purchase price.
  • Eligible property types include:
    • Existing homes
    • New construction
    • Modular homes
    • Planned Unit Developments (PUD's)
  • Not limited to first time home buyers.