Get a mortgage off the beaten path.
Ready for a bigger backyard? Seek greener pastures with 0% down1 and 100% financing1 for eligible properties.
Rural Development Mortgage Requirements
Every field comes with fences. To qualify for a USDA Rural Development Loan through LMCU, you must meet these requirements.2
Income eligibility
The USDA sets area income limits for loan eligibility. Consult their website for more information.
Residence status
You must occupy your new home as your primary residence.
Property criteria
Ensure you meet all criteria set by the USDA and your state’s housing development authority.
Rural Development Mortgage: Features & Benefits
A Rural Development Mortgage could help grow your home sweet homestead from the ground up by saving you money on your down payment and future construction plans.
Flexible financing
A Rural Development Mortgage is designed to help more families achieve homeownership.
One-time close
Prefer to build? You can also bundle vacant land and construction loans into one easy closing.
Low down payment
Qualified borrowers can buy with 0% down1 and competitive rates on a 30-year fixed mortgage.
Rural Development Mortgage FAQs
A Rural Development Mortgage, also known as a USDA loan, is a government-backed home loan that helps homebuyers in eligible areas purchase or build a home without a down payment.
Geographic and property eligibility is determined by the USDA and subject to change, so please consult their website for the most up-to-date information.
No, Rural Development Mortgages are available to all homebuyers who meet the program’s income and property eligibility requirements.
No, the main benefit of a Rural Development Mortgage from the USDA and LMCU is 100% financing.1 This means that buyers are not required to provide a down payment!
Since Rural Development Mortgages are designed to help more families finance a home, your eligibility depends on how your household income compares to the average for your area. Consult the USDA for specific income limits in your area.
Save even more with LMCU’s Max Mortgage discount!
Buying a home? Start here.
Connect with one of our local mortgage experts. They’re ready to answer any homebuying questions you may have with a smile and an extra mile.
The home of all your homeownership needs.
Disclosures
For well qualified borrowers. The interest on the portion of the loan that exceeds the value of the dwelling is not tax deductible. Please consult your tax advisor.
To qualify for a USDA Rural Development or Rural Construction loan, you must meet specific requirements.
To receive MaxMortgage discount, mortgage payment must be an automatic payment that comes from an LMCU checking account with an ACH deposit. Some programs may not be eligible, discuss with your mortgage loan officer for further details.
