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Rural Development Loans in Jackson TN, Buy a Home with no down payment
Jackson is the county seat of Madison County, Tennessee. The total population of the city at the 2010 Census was 65,211.
The city of Jackson is the only area in Madison county that is not eligible for 100% financing using the USDA Rural Development home loan. Rural Development, or RD loan allows buyers in eligible areas purchase a home without a down payment. They are able to finance 100% of the purchase price of the home. However, the program has income as well as geograhic limits. The income limits are based on the size of the family and takes into account all household income. In Jackson a household of 1-4 family members can make roughly $74,750 per year and a household with 5-8 family members.$98,650. There are adjustments that can be made so these numbers are not absolute. Give us a call at 866.435.6553 to see if you qualify for the Rural Development program.
The geographic restrictions merely limits the use of the programs to areas outside of major population centers. Jackson, Tennessee is one of the restricted population centers. However, by reviewing the map below it is easy to see, that most any home outside of the city limits of Jackson ... more
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