Finance
What is a 'USDA Rural Development loan' and who qualifies?
AA loan for purchasing agricultural equipment
BA government-backed loan program for low-to-moderate income borrowers purchasing homes in eligible rural and suburban areas — often requiring no down payment✓ Correct
CA loan for developing commercial property in rural areas
DA loan available only to farmers and ranchers
Explanation
USDA Rural Development loans are backed by the U.S. Department of Agriculture for eligible properties in rural and suburban areas. The Section 502 Direct and Guaranteed loan programs offer low-to-moderate income households the ability to purchase homes with no down payment and below-market interest rates.
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