USDA – RHS Loans
USDA & RHS Home Loans
What Is an USDA Loan or an 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 Loan & 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 Federal 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.