Not all properties are eligible to receive rural funding with a USDA Home Loan. In order to be eligible for a USDA loan, household income must meet certain guidelines. Also, the home to be purchased must be located in an eligible rural area as defined by USDA.
The USDA only provides funding in Non-Rural areas. These are areas that lie outside non-rural areas as defined by the USDA's Satellite Grant Program Request for Proposals (RFP), published in the Federal Register on May 7, 2010. The term "rural area" means any area, as confirmed by the latest decennial census of the Bureau of Census, which is not located:
– within a city, town, or incorporated area that has a population of greater than 20,000 inhabitants; or
– an urbanized area contiguous and adjacent to a city or town that has a population of greater than 50,000 inhabitants
USDA home loans are ideal for first time home buyers or anyone who qualifies within the income guidelines. Please contact me at email@example.com to obtain more information about USDA home loans.