I’m not sure why and I’m not sure how, but I have been getting a lot of requests for the USDA Rural Development loans lately. I guess it’s because they are so appealing.
If you have not read my full post on them yet, go to the 100% financing page.
In a nutshell, the loans offer 100% + financing with very good interest rates and easy qualifying, especially if you have a 620 or greater credit score.
While there are a few stipulations as far as location (think rural) and household income (they are for low to moderate incomes), for many people that want to live outside a large urban area, they are the perfect loan.
Ok, just to clarify, I’m not complaining about the number of inquiries that I am getting for this product. In fact, I think it’s great, as it is an alternative to the downpayment assistance programs that are now defunct.
To learn more about the program, visit the Northwest Indiana Loan Guy site. If you are in need of a loan to rehab an existing property or a home you are thinking of purchasing, check out our information on the FHA 203(k) streamline loans.
While you are, fill out an application to see if you qualify for one of our incredible government backed loan programs.
Scott
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