Finance
What is a 'USDA Rural Development loan' and is it available in parts of Rhode Island?
AA loan only for farmland; not available in Rhode Island
BA government-backed loan for eligible rural and suburban homebuyers that offers 100% financing; available in some eligible rural areas of Rhode Island✓ Correct
CA loan specifically for Providence's urban core
DA commercial real estate loan for agricultural businesses
Explanation
USDA Rural Development loans (Section 502) offer 100% financing to eligible low-to-moderate income borrowers in eligible rural and suburban areas. Some areas of Rhode Island outside of Providence, Warwick, and Cranston may qualify.
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