USDA Mortgages

About USDA Mortgages  

Here in USDA home mortgages has the unique responsibility of coordinating Federal assistance to rural areas of the state and nation. The Rural Development mission is to help rural Americans to improve the quality of their lives.

Each year, USDA mortgages create or preserve tens of thousands of rural jobs, build and update rural infrastructure and create or improve more than 60,000 units of quality rural housing. To multiply the impact of its programs, USDA mortgages is working with State, local and Indian tribal governments, as well as private and nonprofit organizations and user-owned cooperatives.

Rural Development programs are administered through USDA network of offices.

Recent Information about the Rural Development Housing Loan Program

Interest in the USDA’s development lending program is growing because of the nation’s credit crunch and because private lenders have stopped offering loans with no money down.

To qualify for a USDA mortgage loan, a borrower can’t have income that exceeds 115 percent of the median county income, and the loans are restricted to areas with lower population density – generally towns of no more than 25,000 residents. Big city home buyers aren’t eligible for the loans, but residents of many of America’s fast growing towns are. The loans that come through the program are made by private lenders, then insured by the government and sold to Ginnie Mae which is a federal agency that sells mortgages to investors.