RHS Loan Programs:

The U.S. Department of Agriculture offers a variety of programs to help low to moderate-income individuals living in small towns or rural areas achieve homeownership. The Rural Housing Service (RHS) helps qualifying applicants, who cannot receive credit from other sources, purchase modestly priced homes as their primary residence.

RHS Loans are an attractive option because:

• Low or no down payment 
• Closing costs can be included in the loan, within appraised value 
• No monthly mortgage insurance
• One-time guaranteed fee; 2% of the loan amount for purchase loans
• 100% financing of the appraised value OR 102% financing when the guaranteed fee of 2% is included in the loan
• Single family homes, townhouses and approved condos in eligible rural areas
• Income limits are 115% of the HUD median income limits
• Minimum credit score of 620
• Fixed interest rates
• 30 year term
• No limit on seller contributions
• No recapture penalty

RHS loans can be used toward the purchase and renovation of a previously owned home or new construction. Families must be able to pay their monthly mortgage, homeowner's insurance and property taxes.

Find out if you qualify for an RHS Loan. Contact us TODAY at 802-288-1111.

Apply Now

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