Finance
In North Dakota, 'USDA Rural Development' home loans are available to:
AOnly farmers and ranchers
BEligible borrowers purchasing homes in rural areas and small communities that meet income limits✓ Correct
COnly commercial agricultural properties
DOnly North Dakota residents who were born on farms
Explanation
USDA Rural Development (Section 502) loans provide no-down-payment mortgages to income-eligible buyers purchasing in eligible rural areas. Many North Dakota communities qualify as rural under USDA definitions, making these loans widely available across the state.
Related North Dakota Finance Questions
- A North Dakota borrower has a home equity line of credit (HELOC). This instrument is secured by:
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