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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.

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Introducing the Rate Deflator!

Finance your new home purchase mortgage loan today with Magnifi Financial, and we'll waive the origination fee on the refinance loan within 3 years!


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.

Loan Amount
Annual Interest Rate
Loan Term
Annual Property Taxes
Annual Homeowners Insurance
Monthly Private Mortgage Insurance
Monthly Principal and Interest Payment
Monthly Tax, Insurance and PMI payment
Total Monthly Payment

*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

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 Magnifi Financial:


Traditional mortgage loans with fixed rates throughout the term of the loan.


Mortgage Loans with variable interest rates which may fluctuate payments.


Learn more about purchasing your first home and your options available.


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


A VA loan helps provide home financing for eligible Service members, Veterans, and surviving spouses.


Funds are available from the Federal Housing Administration to low-moderate income families.


A program for credit-worthy low-to-moderate income borrowers or homes in low-income communities.


Loans are available for the purchase of property such as for hunting or investment.

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.


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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Join the Magnifi Family!

At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.

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