Rural Development Housing Financing Options with USDA

Rural Development HoProgram highlights:

• 100% LTV financing (no down payment required).

• Loan amount may include typical closing costs, up to 100% of the appraised value.

Have a property needing repairs or renovations? In these cases, the loan amount can be up to the appraiser’s determined market value of the property with all repairs completed.

• No limits on sales price or loan amount.

• Not limited to first-time home buyers.

• Property types include Single Family Existing, New Construction, Condos, PUDS, Modular, and some Manufactured.

• With our Construction-to-Permanent financing option, which secures the property at closing, realtor commission is paid at closing (before a shovel even hits the dirt).

o With this financing option, the loan may include the lot purchase, reasonable construction and administrative costs, contingency reserves up to 10% of the cost of construction, inspection fees, landscaping costs, and other authorized items.

This program helps make homeownership a reality for applicants with low- and moderate-income households living in rural areas. Providing affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas.

This course is for CE credit. At any time, you may review the information provided in this course for free without CE credit by following the link below:

https://youtu.be/0hn1gHAps9k