USDA – RHS Loans

USDA – RHS Home Loans

What Is a USDA – RHS Loan?

USDA – RHS loan programs assist approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe, and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may purchase, build, rehabilitate, improve or relocate a dwelling in an eligible rural area with 100% financing.

They were long thought of as just for farmers, but the program has been expanded in recent years to give more people looking to purchase or refinance in a rural area access to the incredible benefits offered by these loans.

USDA – RHS Loan Eligibility

Program guidelines are very specific – but don’t let that stop you from achieving your home ownership goals. Our experienced USDA – RHS financing professional will help you navigate through the USDA – RHS loan process and determine if you are eligible.

Basic qualifications include:

  • Income eligibility – your income cannot exceed the limit determined by USDA – RHS. Click here to see USDA – RHS’s income eligibility.
  • Property Eligibility – the property must be in an area designated as “rural” by the USDA – RHS. Click here to determine if the property is eligible.
  • Primary Residence – the property must be your primary residence.

To learn more about the requirements, visit the USDA – RHS Rural Development website.

Benefits of a USDA – RHS Loan from True Sky Credit Union

Our USDA – RHS loans offer several unique benefits that set them apart from standard home loans. USDA – RHS loans require no down payment, so qualified individuals can finance up to 100% of the home’s total purchase price. This makes them one of the more desirable loans available to homeowners.

For more eligibility information, questions, or to apply, contact us at 405-682-1990.

APR = Annual Percentage Rate. Credit restrictions apply. Rates and terms are subject to change at anytime. Rates can be locked only after your completed loan application is received. This information is not a commitment to make a loan, nor is it a guarantee that you will receive a specific rate if approved. An annual percentage rate (APR) is a broader measure of the cost to you of borrowing money. The APR reflects not only the interest rate but also the points, mortgage fees, and other charges that you have to pay to get the loan. For that reason, your APR is usually higher than your interest rate. Loans above 80% Loan-To-Value ratio may require mortgage insurance.

In the market for a new home? Ready to apply for our USDA – RHS Mortgage?
If you would like to apply, click below to get started.

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