USDA/RD
(Rural Development)

The USDA Rural Development (RD) program is designed for homebuyers with low-to-moderate income and savings, financing a home in a designated rural area. USDA/RD requires no down payment, allowing the borrower additional funds to pay for closing costs or prepaids in the mortgage. In some cases, the seller can pay a portion of the sales price to cover closing costs. The USDA/RD loan can also be used to refinance an existing mortgage to a lower interest rate.