Rural Development Loan Advantages
- Competitive Rates
- No Down Payment Required
- 30 Year Fixed Rate
- 100% Loan to Value
- Finance Closing Costs – if market value is sufficient
- Unrestricted Gifts
- No Maximum Loan Amount – based on repayment ability of applicant
- No Reserve Requirement
- High Earnings Potential
Designated rural areas include portions of:
Newport
Middletown
Portsmouth
Providence County
Fall River
Westerly
Hopkinton
New Shoreham (Block Island)
Check eligibility at:
https://eligibility.sc.egov.usda.gov
Click on “property eligibility”