There is no difference between a USDA Loan and a Rural Development Loan. The terms can be used interchangeably.
Both USDA Loans and Rural Development Loans refer to the government guaranteed loan program that lets you borrow up to 100% of your home’s value – Meaning no down payment is required.
Benefits of these USDA Rural Development Loans include:
- No Money Down
- No Monthly Mortgage Insurance
- All Closing Costs Included in Loan
- Relaxed Underwriting Guidelines
- NO Maximum Loan Amount
- NO assets needed to qualify
- Flexible Credit Guidelines
- Competitive, Fixed Interest Rates