Can the USDA save the American housing market?
Besides stamping the beef in America, the USDA has another project that affects many people (even vegetarians). There's an agency within the USDA called "The Office of Rural Development." Part of its mission is to improve the economy and quality of life in rural America.
This includes backing mortgages in communities designated as rural. In fact, RD has a loan portfolio of almost $90 Billion. This means potential home buyers all across the country can take advantage of a little-known program to get out of a rental, into a home and begin building equity, all with very little up front. The RD loans are 100% financing mortgages. RD has been around for more than 20 years (first called RDA in 1990, it became RD in 1994). With more than 2 decades of proven success, it's a wonder more people don't know about RD. But we're changing that here at AmeriFist.
Definition of "rural" for RD is pretty liberal, too. For example, in Northern Indiana, is mostly rural except for a few cities like Fort Wayne, South Bend, Elkhart, Gary and Kokomo. But at the map below, you can see several communities fall under the rural label, even if they have suburban areas very close to them.
You can download the RD Loan Fact Sheet at the button below, and learn more. Pass it around, and consider finding a home just outside "the city" for your first home.