Where’s the beef? Not here. But we do have a recipe for (potential) success to share with you! AAFMAA Mortgage Services can fill you in on the “ingredients” — more specifically: the details of getting a USDA loan for your rural home. Take a look below.
By Rob Greenbaum
Chief Marketing Officer
AAFMAA Mortgage Services LLC (AMS)
The United States Department of Agriculture (USDA) is probably best known for ensuring the quality and distribution of our food supply. But, did you know that the USDA also guarantees home loans for purchasers in rural locations? If you’re looking at buying a home in a rural community, it’s worth seeing if a USDA Loan would be a good fit for your needs.
USDA provides loans and backs mortgages issued through the USDA Rural Development Single Family Housing Programs, which set the eligibility criteria for low-income borrowers in rural areas. As it turns out, the definition of rural geography is not very limiting. USDA defines rural areas as areas with fewer than 35,000 people living there — 97% of the country qualifies under this definition. Keep reading in the AAFMAA Learning Hub for more.
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