Can you tell me about Rural Development loans?
Nov-9-2009 Posted under Development Loans
Any info…
Most people around here don’t seem to have heard of it (even at our bank!) and I want to get an idea of what I’m talking about before calling someone…
Asking from a 1st time home buyers perspective if that narrows down the field…
Rural Development Loans are low downpayment, low interest loans which can be used to buy homes only in designated rural areas. The best place to start if you’re interested is the USDA’s Rural Development site, which has information available by state: http://www.rurdev.usda.gov/
The direct link to determine eligibility of a particular property or borrower is:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
There are so many that it would take a lot of space here. Have your bank or Real Estate Agent put you in touch with your local representative. They also have Seminars fairly regularly. Also look intro your state Housing Authority. They have great programs too. I am a great fan of both.
References :
An Agent
Rural Development Loans are low downpayment, low interest loans which can be used to buy homes only in designated rural areas. The best place to start if you’re interested is the USDA’s Rural Development site, which has information available by state: http://www.rurdev.usda.gov/
The direct link to determine eligibility of a particular property or borrower is:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
References :
A Realtor
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