(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.

 Special Alert!!

Several Oregon small towns are in the process of being added to the eligibility area for USDA Guaranteed Rural Home Loans. These towns should be included: Forest Grove, Cornelius, Woodburn, Wilsonville, Roseburg, Coos Bay. North Bend and Klamath Falls. Please keep in mind that this is preliminary and the actual towns might be different. The efective date is supposed to be July 1, 2009.

A USDA Guaranteed Rural Home Loan?

• Can be used to Purchase a Home.
• Can be used to Refinance an EXISTING 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 than 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.
• Even if you have a recent Bankruptcy you may qualify!!

How to Apply
 

• Click on the link below to get pre-qualified. 

Homes that Qualify
 

• 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. Ask me and I'll see if your area qualifies.
• In some cases you can even finance any necessary repairs.

Click the Button Below for Your FREE USDA Loan Analysis: