No Money Down Rural Development Financing in Pineville Louisiana

By
Real Estate Agent with RE/MAX Premier Realty BROK.0912123349-ASA
http://actvra.in/gFR

No Money Down Rural Development Financing in Pineville Louisiana

One of the more popular forms of financing in Rapides Parish is the USDA ( United States Department of Agriculture) Rural Development Loan. This program allows the borrow to completely finance all closing costs which allows for true 100% No Money Down Financing. No Money Down Rural Development Financing in Pineville Louisiana is especially popular. In our area Pineville can be a very broad term because this does not generally mean in the city limits.

Brick HouseA basic rule for No Money Down Rural Development financing in Pinveille Louisiana is that the property must be outside city limits. Now this does not necessarily mean 20 miles out of town. Great properties can be found near to the city or out in quiet country settings.

 



Basic Rules of Thumb for No Money Down Rural Development Financing

  • Property must be outside of actual city limits.
  • The home must be in good condition.
  • Pools are normally not allowed without a waiver.
  • The Buyer's income must be under $75,000 per year. This amount includes both spouses.
  • The onsite sewage system must be operational and inspected by The State of Louisiana.

 

 Currently there are 32 homes that qualify for No Money Down Rural DevelopmentGraph Chart for Homes Financing in Pineville Louisiana.

  • Price Ranges- $69,500 to $279,500
  • Sizes- 3 Bedrooms 1 Bath to 5 Bedrooms 4 Baths

 

 

 

 

 

 

 

 

 

 

 

 

There are many wonderful properties that qualify for No Money Down Rural Development Financing outside of Alexandria, LA also.

Call today for a complete list at 318-880-1270. These properties move quickly due to the amount of purchasers in our area using this type of financing. Don't miss your dream home.

Posted by

David Beckham
Alexandria & Pineville Direct: 318-880-1270

Your Louisiana Real Estate Connection

 

COPYRIGHT 2016 David Beckham

 

 

David Beckham is Licensed by the Louisiana Real Estate Commission. RE/MAX Premier Realty 1901 Gus Kaplan Drive Alexandria LA 71301 USA. Office 318-427-8005

 

 

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Show All Comments
Rainmaker
188,281
Joye Hollis Ridgeway
AgentOwned Realty, Charleston SC - Charleston, SC
- Homes, Land, Investment, Commercial

NIce post !! Most people don't know about USDA lending program.  The more we get the word out, the more sales we can make.  Good luck, and hope you get lots of buyers

Aug 13, 2011 08:57 AM #1
Rainmaker
116,563
Steven Brand
Hancock Mtg Partners - Stillwater, MN
NMLS# 261849

RD is the best option out there if you're in an area that is ELIGIBLE.

GO GET EM!

Aug 13, 2011 09:42 AM #2
Rainmaker
139,769
David Beckham
RE/MAX Premier Realty - Alexandria, LA
Your Louisiana Real Estate Connection

Thanks Everyone! In our area this is a very popular financing option. More people use this than FHA or conventional here.

Aug 13, 2011 11:21 AM #3
Ambassador
706,952
Doug Rogers
Bayou Properties Realty - Alexandria, LA
Your Alexandria Louisiana Agent

Can folks do Rural Development loans on Mobile homes?

Aug 13, 2011 12:25 PM #4
Rainer
62,731
Scotti Jowers
CENTURY 21 Shackelford French, Search West Monroe Homes - West Monroe, LA
Realtor - West Monroe, Louisiana Homes for Sale

I think it's very popular all over Louisiana. I rarely work with a client who doesn't go RD or FHA.

Doug at #4, the answer to that question is that only a brand new mobile home that will be permanently attached to the buyer's property will be RD eligible. I've never tried it, but I had a seller for whom we had to retrofit her foundation to make it FHA eligible and I was told at that time the info about mobile homes going RD.

Aug 13, 2011 02:11 PM #5
Ambassador
637,953
Marilyn Boudreaux
Marilyn Boudreaux, Century 21 Mike D. Bono & Co.'s - Lake Charles, LA
Lake Charles LA Century 21 Realtor

Rural development loan is my favorite loan and you are right its very popular indeed even here in Calcasieu parish.  It may take a bit longer in underwriting since the file is manually underwritten but if buyers are patient its a great loan.  My husband is a loan officer and he just told me RD is running a back log meaning its so popular that it is taking about 7-8 days longer

Aug 13, 2011 04:54 PM #6
Rainmaker
607,901
Kathy Sheehan
Bay Equity, LLC 770-634-4021 - Atlanta, GA
Senior Loan Officer

I think this is a terrific program especially for first time home buyers.  Great information.

Aug 13, 2011 04:59 PM #7
Rainmaker
354,785
Julie Baldino
Front Door Realty - Vancouver, WA
Opening Doors to New Chapters...

I love this program... just wish they could get closed quicker!

Aug 13, 2011 05:38 PM #8
Rainmaker
156,908
George Bennett
Inactive - Port Orford, OR
Inactive Principal Broker, GRI

Informative post about a great program. Thanks for posting.

Aug 13, 2011 07:22 PM #9
Rainer
88,617
Angelina Clarke
REALNET Tampa Bay - Tampa Palms, FL

We have that here in Tampa too!  Our probelm is that the program runs out of $$$$ too quickly!  It is a GREAT program, and helps a lot of people :)

Aug 13, 2011 11:52 PM #10
Rainer
98,306
Karen Poss
Coldwell Banker Pinnacle Properties, Florence Alabama - Florence, AL
Realtor - 256-366-6292 - Search Florence Al Homes For Sale

Great program and great idea for a post.  Congrats on the feature!  I love RD but agree with Julie...wish they could close quicker. 

Aug 14, 2011 04:26 AM #11
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Rainmaker
139,769

David Beckham

Your Louisiana Real Estate Connection
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