Powerful Benefits for Rural Homebuyers
USDA loans help make homeownership more affordable in rural areas. The United States Department of Agriculture (USDA) backs USDA loans. A lender like Midland States Bank issues the loan, while the USDA's involvement guarantees it. Most USDA loans have competitive interest rates and low-cost mortgage insurance (paid monthly). They also have flexible credit requirements, making it easier for low- and middle-income families to get approval.