102% Financing for Rural Oregon.

(You might be surprised at what's considered Rural)

It is becoming harder and harder to purchase a home, yet there are still many affordable homes if you have a down payment or the advantage of a program that helps you qualify for more home. An often overlooked program by the US Government is just such a program.

So what is a USDA Guaranteed Rural Home Loan?

Guaranteed Home Loans: Rural families and individuals may be eligible to become homeowners with the help of a little known program, the U.S. Department of Agriculture - Rural Development guaranteed loan.

Through the Guaranteed Rural Housing Loan Program, low and moderate income people can qualify for mortgages even without a down-payment or great credit.

Eligible Persons

• Have an adequate and dependable income. Must be able to fully document your income and assets.
• Must be a U.S. citizen or be legally admitted to the United States for permanent residence.
• An adjusted annual household income that does not exceed the published limits for the county in which you purchase. Call me for information on the income limits for your area. Income includes the total gross income of the applicant, co-applicant, and any other adult in the household. It excludes certain expenses and adjustments. A large family will qualify for more home then a single person.
• A credit history that indicates a reasonable willingness to meet obligations as they become due. Past payment history is less important then current and future ability to pay.

How to Apply

Homes that Qualify

• Guaranteed loans can be made on either new or existing homes, including some manufactured homes.
• Plumbing, heating, water, waste disposal, and electricity must be certified as adequate and the dwelling must be free from termites and dry rot.
• No restrictions exist on the size or design of the dwelling financed, but must be considered modest.
• Must be a residence, not a farm. (although we have a farm loan available as well.)
• Dwellings with in-ground swimming pools, are prohibited.
• Homes must be located in rural areas. Rural areas include open country and places with a population of 10,000 or less and, under certain conditions, towns and cities with less than 20,000 population. Fill out the form to see if your area qualifies.

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