Rural Development Loan

Rural Development Loans and Your Credit Score

When looking into purchasing a new home, usually the first thing that comes to your mind is your credit. All loans are based on that MYSTERIOUS CREDIT SCORE but a Rural Development Loan might be a bit more forgiving about “your dog eating your credit card statement” two years ago than you may think. Rural [...]

Property Acquisition Types

RD loan may be made for different types of acquisitions.  RD allows for the purchase of new dwelling, manufactured, stick built, modular or condominiums.  Consumers can also use the RD loan to purchase existing dwellings, stick built, modular and condominiums.  The difference between existing and new is you cannot purchase an existing manufactured housing unit.  [...]

Income Requirements for Qualifying Eligibility

Income used to approve the borrower for an RD loan may not exceed the moderate income level issued by RD.  To determine if your income meets the moderate income you can reference the RD website:  http://www.rurdev.usda.gov/mi/sfh/MI%20GRH%20(2).pdf Income calculation must be based on the income received by borrower, co-borrower and any adults within the household regardless [...]

Are you equipped to snag the best mortgage loan?

If you’re contemplating a new house in 2012, have you done your homework for snagging the best loan in the market? If answered no, what are you waiting for? A mortgage loan is a loan with a huge amount and you have to be watchful enough so that you don’t take the wrong decision that [...]