Finance
An Alaska buyer is applying for a USDA Rural Development loan. One key eligibility requirement is that the property must be:
AA farm or agricultural property
BLocated in an eligible rural area as designated by the USDA✓ Correct
CPreviously foreclosed and currently bank-owned
DA newly constructed home only
Explanation
USDA Rural Development loans require the property to be located in a USDA-eligible rural area. In Alaska, many communities outside of Anchorage, Fairbanks, and Juneau may qualify as eligible rural areas. The USDA's rural designation is based on population and proximity to urban areas.
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