Horse crap
Are you talking about what you had for dinner or you don't believe what I posted?
For clarification, USDA isn't providing the money they're providing the mortgage insurance, just as FHA/HUD and VA do. If the borrower goes belly up USDA pays off the loan to the investors.
USDA Rural Development Housing & Community Facilities Programs.
Approved lenders under the Single Family Housing Guaranteed Loan program include:
* Any State housing agency;
* Lenders approved by:
o HUD for submission of applications for Federal Housing Mortgage Insurance or as an issuer of Ginnie Mae mortgage backed securities;
o the U.S. Veterans Administration as a qualified mortgagee;
o Fannie Mae for participation in family mortgage loans;
o Freddie Mac for participation in family mortgage loans;
* Any FCS (Farm Credit System) institution with direct lending authority;
* Any lender participating in other USDA Rural Development and/or Farm Service Agency guaranteed loan programs.
USDA has maps for each county in each state with the areas outlined where they offer Home Loan Guarantees. I was at a property last month in a subdivision on a 1/3 acre lot in a suburban location that was being purchased using the Rural Housing and Development program. The only thing agriculture related about this property was the grass growing in the yard.