Did you know:
The RHS offers a subsidized single-family loan and guaranteed 30-year loan with nothing down. The loans are limited to primary residences in rural areas defined as outside a metropolitan statistical area and in a community with a population less than 20,000.
A borrower's income cannot exceed 115 percent of the county's median income. Loan limits cannot exceed the FHA's maximum for that area.
Both Fannie Mae and Freddie Mac purchase rural home loans originated by private lenders, with an unusual second loan subsidized by the government. RHS also has a program for privately-secured commercial mortgages which includes financing for hotels, motels, and other structures. For this type of loan, a town can have a population of up to 50,000.