USDA Rural Development Loan | SunTrust Mortgage

USDA Rural Development Loan

USDA Rural Development Loan

If your ideal neighborhood isn’t a neighborhood, but a quiet spot in a designated rural1 area, you may be eligible for a USDA Rural Development Loan.

Advantages of USDA Rural Development Loan:

  • Down payment is not required
  • Cash reserves are not required
  • Seller contributions are allowed up to 6%
  • Closing costs may be financed in some cases where the property appraises higher than the purchase price (Ask Loan Officer for details)

What you'll need to consider:

  • Income limits based on 115% US median income and adjusted for family size
  • One time 2.75% guarantee fee

Call 877.907.1043, email us or find a loan officer serving your community to learn more about the USDA Rural Development Guaranteed Housing Program.

DISCLAIMERS

1 'designated rural area' is defined by the U.S. Department of Agriculture Rural Development.

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