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There are 960 USDA backed residential loans in Rhode Island with an average loan balance of $203,288. Over 84% of the loans went to help first time home buyers. Borrowers were an average age of 37 years old. The typical appraised home value was around $206,412. On average the rural home size purchased with this loan was approximately 1,305 square feet.
The size of Rhode Island is roughly 4,001 square kilometers. USDA defined regions of rural loan ineligibility in Rhode Island cover 925 square kilometers of the state. See the interactive geographic illustration below for more details. Approximately 23.13% of the state is ineligible for traditional USDA home loans.
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A USDA loan is a mortgage option available to eligible homebuyers that is sponsored by the United States Department of Agriculture to promote homeownership in rural communities. USDA Loans, sometimes called "RD Loans," offer 100% financing options on eligible rural properties. USDAProperties can help you find USDA Properties throughout the state of Rhode Island.
Rhode Island State Motto: Hope
The Rhode Island Area Office is located in Warwick, RI. The office is open to the public Monday through Friday from 8:00 a.m. until 4:30 p.m.Featured Properties from USDA Loan Eligible Regions of Rhode Island