The Rural Housing Service, which is part of the U.S. Department of Agriculture (USDA), guarantees loans in eligible rural areas with no down payment. Only low- and moderate-income rural residents are eligible for this type of mortgage loan. The Rural Housing Mortgage guarantee is paid for by the borrower through a “Guarantee Fee,” which is 2.75% of the loan amount. This type of mortgage requires that borrowers meet full credit, income, and property qualifications.
For more information on Rural Housing Service Loans:
Call us at 410-558-4200 or toll-free at 1-888-561-BANK (2265).