In today’s world, many people are considering buying a home to start their family on the right foot. To do so, they must secure a mortgage loan to purchase the property. For homebuyers living in rural areas, there is a great option to consider, the USDA Rural Housing Loan. USDA Loans offer several positive benefits that make them a great choice for homebuyers living in rural areas.

Flexible Credit Requirements: The USDA Loan program offers relatively flexible credit requirements which allow those with lower credit scores to qualify. USDA-approved lenders can make exceptions for borrowers with a 620 or higher credit score.

Low Down Payment: One of the most attractive features of the USDA Loan program is the low down payment requirement. Most USDA loan applicants only need to pay a 1% down payment of the purchase price to secure a loan. This makes the program appealing to potential homebuyers who do not have the ability to make a much larger down payment.

Low Interest Rates: The USDA Rural Housing Loan Program offers competitive interest rates, often slightly lower than those with conforming loans. This can result in long-term savings as interest rates largely impact the total amount of a loan.