A borrower is interested in a USDA Rural Development loan. Which of the following best describes the primary purpose of USDA's rural eligibility requirements?
Correct Answer
B) To promote homeownership in eligible rural and suburban areas
USDA Rural Development loans are designed to promote homeownership in eligible rural and some suburban areas. The program is not limited to agricultural workers or specific population thresholds, but rather focuses on areas that meet USDA's definition of rural or suburban.
Why This Is the Correct Answer
USDA Rural Development loans are designed to promote homeownership in eligible rural and some suburban areas. The program is not limited to agricultural workers or specific population thresholds, but rather focuses on areas that meet USDA's definition of rural or suburban.
More Mortgage Knowledge Questions
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