Finance
What is a USDA Rural Development loan and does it apply in Nevada?
AA loan only for farming operations
BA federally guaranteed loan for low-to-moderate income buyers in eligible rural and suburban areas of Nevada, offering no-down-payment financing✓ Correct
CA loan for Nevada properties with agricultural zoning only
DA Nevada state program for rural landowners
Explanation
USDA Rural Development (Section 502) loans offer no-down-payment financing for eligible buyers in qualified rural and small-town areas. Several Nevada communities (particularly in rural counties and some suburban areas) qualify for USDA loans.
Related Nevada Finance Questions
- A Nevada borrower has a $350,000 30-year fixed mortgage at 6.5% interest. Using the factor table, the monthly payment factor is $6.32 per $1,000. What is the monthly principal and interest payment?
- A buyer's debt-to-income (DTI) ratio of 43% means:
- The Truth-in-Lending Act (TILA) requires lenders to disclose the:
- A point on a mortgage loan equals:
- In Nevada, a deed of trust differs from a mortgage primarily because:
- What is a commercial real estate mortgage compared to a residential mortgage in Nevada?
- What is the purpose of an adjustable-rate mortgage (ARM) disclosure in Nevada?
- A loan-to-value (LTV) ratio of 80% on a $350,000 property means the loan amount is:
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →