Could you qualify for a Rural Development Loan?

Rural communities which qualify for Rural Development Loans will continue to qualify for these loans until 2020 according to the recent passage of the Farm Bill recently passed by Congress. In addition to the extension, the population limit of the communities who qualify was increased from 25,000 to 30,000. This link shows the qualifying income break down by county. CLICK HERE USDA Single Housing programs provide loans to low to moderate income through loan options, grants and loan guarantee programs to purchase or improve their living conditions. The following list is from the UDSA Rural … [Read more...]

USDA Rural Development Home Loan

The United States Department of Agriculture (USDA) Rural Development Home Loan program allows buyers to be issued a mortgage with 0% down. Buyers can also rely on financial gifts from various sources, including friends and family, to cover the closing costs. The following steps will help outline the process: Ensure you will be able to afford the mortgage payments: Make copies of your last two federal tax returns, 60 days worth of pay stubs, Credit card and other loan statements, Retirement and other savings account statements, and Checking account statements. Contact a … [Read more...]