The USDA does have an interesting home loan plan called Rural Development.
To qualify for this special loan, the homes location has to be in a qualifying zone. Usually this lies outside
the city boundaries. A 640 minimum credit score is required by the l...ender. Household income can not
exceed 115% of the median income for the county in which the home is located. Income is projected
forward including projected pay raises. Borrowers must lack sufficient resources to secure a conventional
loan. (Generally 20% Down) So if you have a potential buyer who may be a little credit impaired, who
wishes to live a bit out in the country, allow me to do some due dilligence with your clients and let's see
if I can get them qualified for a home under the USDA Rural Development banner.