USDA / Rural Development Loans

USDA (Rural Development) loans are designed to help eligible homebuyers purchase properties located in qualifying rural and suburban areas. These loans are ideal for individuals and families with low to moderate incomes who can demonstrate the ability to manage monthly housing payments, including principal, interest, taxes, and insurance.

Despite the name, the property does not need to be farmland or open acreage — it simply must be located within a USDA-eligible geographic area.

Key Benefits of a USDA Loan:

• No down payment required (100% financing available for qualified buyers)

• Designed for borrowers with low to moderate household incomes

• Competitive fixed interest rate options (15-year and 30-year terms available)

• New manufactured homes may qualify (subject to property and program guidelines)

• Closing costs and eligible lender fees may be financed into the loan

• Renovation and repair costs may be included when program guidelines are met

USDA financing can be an excellent option for first-time homebuyers or families looking to maximize affordability while purchasing in qualifying communities throughout Minnesota and Iowa.

If you would like to determine whether a property or your income qualifies under USDA guidelines, I would be happy to review your situation and provide clear guidance on your options.

Call 507-847-4466
kip@laportegroup.net