USDA/Rural Development (RD) Loan Program
CharterWest is considered one of the top lenders of the USDA/RD program in Nebraska, and we are pleased to offer the benefits of this program to our customers.
Loans granted by this agency are for fixed rate terms. Loans are granted for up to 100 percent of the appraised value of the home.
Approved lenders under the Single-Family Housing Guaranteed Loan Program include:
- Any State housing agency
- Lenders approved by:
- Federal Housing Administration (FHA)
- Veterans Administration (VA)
- Fannie Mae and/or Freddie Mac
USDA/RD Loan Eligibility Requirements
Section 502 loans are primarily used to help low- and moderate-income individuals or households purchase homes in rural areas. Applicants for loans may have an income up to 115 percent of the median income for the area. Area income limits and details for this program can be located at www.rurdev.usda.gov.