What is a USDA Mortgage?
Other terms for a USDA Mortgage are; Rural Development Loan or Rural Housing loan. USDA mortgages are designed by the government to help medium income Americans in rural and suburban areas buy a new home.
There are many benefits of using a USDA Mortgage. No money down, low interest rates, 30 year fixed rates, Government guaranteed, and you may be able to roll in closing costs with the loan.
In addition to qualifying for a USDA Mortgage, a home must also meet certain location requirments.
The picture below shows the ineligble areas.
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