rural: Rural Development
- 04/26/11 07:03 AM
Rural Development 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, … (0 comments)
Rural Development
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