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.

Packing boxes to move into new home.
 
 

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.

 
 

 

Mortgage Loan Calculator

Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.

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*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment
 
 

HELPFUL TIP

Meeting with a mortgage lender about your loan options is a great idea. They can help recommend the best loan for your situation and future.

Apply for a mortgage loan today!

We’re ready to help finance your perfect home with your perfect mortgage.

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Mortgage Programs

Check out some of the mortgage loan options available with CMCU:

BUYING A
HOME HUB


Go to the mortgage homepage to learn more about the process.

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.

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