A number of homes we offer for sale are in areas that are eligible for the United States Department of Agriculture Rural Development Housing Loan programs. These programs provide financing alternatives to low and moderate income Americans.
The main feature of these loans is that they do not require down payments. The housing does need to be in a condition that it meets occupancy standards. There is an option under the Guarantee program to finance manufactured housing that is a foreclosure and that was originally certified under the USDA’s Housing and Community Facilities Loans (HCFP) programs.
If you are interested in one of our rural houses, considering if the USDA Rural Housing loan programs might be an option is a good choice. First, determine if the home is in an eligible area. Then locate a local lender who will work with USDA loans. To learn more about this alternative financing, here is a summary with links to various questions you may have to determine your eligibility.
One reminder-it is always appropriate to start your home search with the financing in place. Programs like the USDA home loans require preparation and some time. Deciding to explore this alternative because you have found the home of your dreams is likely to be too late.