Q: What are the USDA Rural Development Loan Property Eligibility Requirements?
A: Remember that in order to qualify for a USDA Rural Development Loan, the property must be located in a designated rural area. But don’t let the term “Rural Development Loan” mislead you. USDA Loans were designed to help build our country’s smaller communities while making land and property more affordable. This is why you might be surprised at how many areas of the United States do qualify for these no money down home loans – Some of which are located just outside of major metropolitan areas.
Other USDA Eligibility requirements include:
- Property must be located outside a major metropolitan area
- Community in which property resides must have a population of less than 20,000 residents
To learn if your property is USDA Loan eligible, the USDA Loan Agency is offering a unique search tool. Please visit our USDA Loan Property Eligibility page to learn more. Or, for more specific USDA loan information, contact our certified agents today.