Rural Development Loans
Building up rural areas to create thriving communities.
A program that helps our lenders work with low and moderate-income families living in rural areas. A Rural Development loan can provide affordable homeownership opportunities in local areas which promotes prosperity. This creates thriving communities and improves the quality of life in rural areas. Work with your local mortgage loan officer to see if you and your future home qualify for this program in Minnesota or North Dakota.

No Down Payment
One of the greatest perks about a Rural Development (RD) Loan, is the ability to purchase a home without needing to make a down payment. Of course, if you have money for a down payment, it will help you start building up your equity faster and save money on interest payments.
Income Limits
Buyers must meet income eligibility requirements. This means your income cannot exceed 115% of the median household income in your state. Click here to find the median income by state.
Location Limits
Since this program is designed to build up rural communities, only specific areas are eligible for residents to qualify for a Rural Development loan. Utilizing the USDA's Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.
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Apply NowMortgage Programs
Check out some of the mortgage loan options available with CMCU:
CONVENTIONAL
MORTGAGE
Traditional mortgage loans with fixed rates throughout the term of the loan.
ADJUSTABLE-RATE
MORTGAGE (ARM)
Mortgage Loans with variable interest rates which may fluctuate payments.
FIRST-TIME
HOME BUYERS
Learn more about purchasing your first home and your options available.
LAND
LOANS
Loans are available for the purchase of property such as for hunting or investment.
FHA
LOANS
Funds are available from the Federal Housing Administration to low-moderate income families.
HOMEREADY BY
FANNIE MAE
A program for credit-worthy low-to-moderate income borrowers or homes in low-income communities.
VETERANS
AFFAIRS (VA)
A VA loan helps provide home financing for eligible Service members, Veterans, and surviving spouses.
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Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.
IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.