What do you think of when you think about the United States Department of Agriculture, aka the USDA? Back in 1991, the United States Government decided to make home ownership more widely available to areas of the country outside of the major metropolitan areas. They did this by launching the USDA Single Family Housing Guaranteed Mortgage program.
Through the program, the USDA provides loan guarantees to lenders in case a borrower defaults. This reduces risk and liability to lenders. Must be a single-family residence, an approved condominium (by Fannie Mae, Freddie Mac, HUD or VA) or a PUD (Planned Unit Development) - a townhome;.
Through the program, the USDA provides loan guarantees to lenders in case a borrower defaults. This reduces risk and liability to lenders. Must be a single-family residence, an approved condominium (by Fannie Mae, Freddie Mac, HUD or VA) or a PUD (Planned Unit Development) - a townhome;.
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