What is the Government’s purpose for offering the USDA Rural Development loan program?
It’s unfortunate, but sometimes having a good credit history or reliable income is not enough to qualify for a traditional loan through a traditional financial institute, such as a bank or credit union.
The United States Department of Agriculture recognizes this, and for this reason they have instituted the USDA Rural Development Loan program. Through this rural development loan program, more families and individuals who reside in some of the nation’s smaller communities are able to qualify for a loan – The end result being that these already vibrant areas grow stronger and more independent.
In short, the USDA Loan program not only helps families realize their dream of homeownership, it simultaneously serves as an economical boost for the area in which the property is purchased.