No Money Down Rural Development Financing in Pineville LA
One of the more popular forms of home loan financing in Rapides Parish is the USDA ( United States Department of Agriculture) Rural Development Loan. This program allows the borrower to completely finance all closing costs which allows for true 100% No Money Down Financing. No Money Down Rural Development Financing in Pineville LA is especially popular with first time buyers. In our area Pineville can be a very broad term because this does not necessarily mean just within the city limits.
A basic rule for No Money Down Rural Development financing in Pinveille LA is that the property must be outside city limits. Now this does not mean 20 miles out of town. Great properties can be found near to the city limits or out in quiet country settings.
Basic Rules of Thumb for No Money Down Rural Development Financing in Pineville LA
- Property must be outside of actual city limits.
- The home must be in good condition.
- Pools are normally not allowed without a waiver.
- There are new rules concerning minimum flood elevation height requirements. This is not to say the property cannot be located in a flood zone but foundation elevation heights must meet the new minimum standard.
- The Buyer's income must be under $75,000 per year. This amount includes both spouses. If you have a large family the income limits adjust to almost $95,000 per year of combined income for both spouses.
- The on-site sewage system must be operational and inspected by The State of Louisiana Health Department.
- Click here to learn more about The USDA Rural Development Home Loan Program
- Price Ranges- $42,500 to $288,500
- Sizes- 3 Bedrooms 1 Bath to 5 Bedrooms 4 Baths
- Average listed price per square- $79.91
There are many wonderful properties that qualify for No Money Down Rural Development Financing surrounding Alexandria, LA also.
Call David Beckham with Keller Williams Realty Cenla Partners 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 home financing. Don't miss out your dream home.