United States Department of Agriculture Rural Development or USDA rural development offers approx 50 programs related to rural development. USDA provides services and many development programs to the state but side by side they are spreading this business gradually. They have divided the USDA rural development program on different basis like program a services for business, there are some programs who specially deals for no profit etc. Let’s check out the different division of program and services under USDA.

Categories of program

There are wide category of program and service in USDA. As we have already discussed above that it works for business as well as charity. This is also work for an individual like it gives home loan to single family. Other than that it also works for lender by giving loan guarantee on industry. For tribes it has tribal college program which are about to provide college to all tribe because we know that education is everyone’s basic right. Apart from this two more programs is dedicated to developer and utility. In utility segment there is waste disposal program where as in developers sector it provide housing site loan in rural area.

The loan rate offered

As we know USDA offers loan in many field, we should know that how much they taking interest on the loan and what are the down payment. For 30 year USDA the interest rate is 4.5 % with zero down payments which makes it favorite of all. If someone takes 30 year of jumbo fixed loan which worth is greater than $ 453,100 then the interest on it is about 4.625% whereas down payment is 25 %. Now, if someone prefer advanced jumbo load its interest is 4.250% on 25% of down payment. Apart from these one get indulge in two step advanced jumbo 15/15 then it offers 4.75 % of interest with 25% of down payment. So it was some loan rate offered by USDA.


Now we have clear view of USDA loan scheme and their programs along with its services. The USDA rural development program offers loan at minimal cost of interest and if we will talk about its down payment then it is zero% if someone consider it for 30 year of USDA. Hence taking USDA home loans are not a bad deal. Recently, it has grown their popularity because it offers great deals for borrowers. So if someone is staying in small town or rural area which is situated in the area approved by USDA then it is very easy to get a loan with zero % of down payment. It provide FICO which almost 620 along with30 year of fixed mortgages. You will also get the availability to purchase option. Hence overall it is beneficial home loan under USDA rural development.