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Rural Development

Benefits Of The USDA Rural Housing Program

  • Provides 100% loan-to-value financing for existing homes or new construction based on appraised value.
  • Available to low and moderate-income rural households.
  • Less up-front cash-to-close requirements for this program than for conventionally insured or FHA loans.
  • RD PMI is much lower than many other loan programs.
  • One-time guarantee fee, payable to Rural Development (RD) at closing, which may be financed above the appraised value, as follows:
    • Purchases - 2% of loan amount
    • Refinances - 1% of loan amount
  • We are the #1 RD lender in Michigan
  • Appraiser required repairs can be rolled in to the loan, up to the appraised value.
  • Fully amortized 30-year fixed-rate loans.
  • No penalty for pre-payment.
  • Loan limits are dictated by the applicant's income with respect to program eligibility and loan repayment ability.

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