Finance
Which of the following NH buyers would most likely use a USDA Rural Development loan?
AA buyer purchasing a condominium in downtown Manchester
BA buyer purchasing a single-family home in a rural Carroll County community✓ Correct
CA veteran purchasing any home in NH
DA buyer purchasing a commercial building in Concord
Explanation
USDA Rural Development loans are available for eligible residential properties in rural and small-town areas. A home in a rural Carroll County community (near the White Mountains) would likely qualify, while downtown Manchester would not.
People Also Study
Related New Hampshire Questions
- USDA Rural Development loans may be available to New Hampshire buyers purchasing in:Finance
- A NH homebuyer applies for a USDA Rural Development loan. To qualify, the property must be located in:Finance
- A VA loan benefit available to eligible veterans and service members includes:Finance
- A VA loan benefit available to eligible New Hampshire veterans includes:Finance
- A NH broker who uses only the phrase 'near church' in listing descriptions for properties in predominantly Christian neighborhoods and avoids such language in other areas may be engaging in:Fair Housing
Key Terms to Know
Amortization
The gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Study This Topic
Practice More New Hampshire Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Hampshire Quiz →