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Rural Development

USDA (RD) Loan Basics & Property/Income Eligibility


  • Typically 100% financing
  • Not Limited to First Time Homebuyers
  • Closing cost can be included in loan (must meet certain criteria)
  • Automated underwriting is available for this product through MidCountry Bank's Wholesale Department
  • Interest may be tax deductible
  • 30 Year fixed rate


  • Allows the customer to buy home for less money out of pocket.
  • Low/Moderate income customers can have owned a previous home
  • Allows customer to purchase home with little or no money at the time of closing.
  • No cash reserves required.
  • Allow customer to obtain faster loan approval. MCB runs approval through GUS and provides details to the WS partner
  • Depending on customer tax situation the interest paid on this loan may be tax deductible saving them even more money. Please recommend they discuss this with their accountant.
  • Keeps monthly payment low and allows for a stable payment.

Who does this product benefit?

  • Customers that want to purchase a home in a rural area.
  • Customer that do not currently own a home.
  • Customer that have little funds for closing.
  • Customers with low to moderate income.
  • Customer that want to keep payments low.
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