Rural Development Home Loans

The USDA Rural Development Guaranteed Housing Loan Program (USDA RD) is primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home.

USDA RD loans are fixed-rate, 15 year or 30 year mortgages and require no down payment. They are only available in designated rural areas and income limits for borrowers vary per area.

Getting started

Alaska USA is a participating lender under the USDA Rural Development Guaranteed Housing Loan Program. Contact an Alaska USA Mortgage Company loan originator and get prequalified. Your loan originator will review your credit report and explain how your credit affects your purchasing power.

Your loan originator will give you a list of documents that you need to bring in to be reviewed by local underwriters. Common documents requested are:

• Pay stubs for the most recent 30 days
• Complete bank statements for the last two months
• Most recent investment information, such as IRA or 401(K) statements
• Most recent two years tax returns with all supporting documentation such as W-2 forms

Alaska USA may ask for additional items that are required based on the specific that you choose based on your financial status or situation.

Don't forget, the choice is yours when it comes to selecting the title and escrow agency, acting as the neutral party for you and the seller.