What Won’t Fly in the Guaranteed Rural Housing Loan Program – Recognizing Unacceptable Credit

Mortgage and Lending with Premier Servicing Company, LLC

As a buyer, should I consider the Rural Housing Loan Program?

As a seller, can my buyer possibly qualify for the Rural Housing Loan Program?

The USDA's Guaranteed Rural Housing Loan is one of the best loan programs out there today.  It is a no down payment, 100% financing loan - the last one available. 

Below is a list of quick ways to see if you or your buyers have a chance to qualify for this program.   These are the other factors that need to be considered as well.

Don't worry if you can't qualify for this particular program.  There are many other low to no down payment programs available.  Contact me for more information. 

Unacceptable Credit for the Guaranteed Rural Housing Loan  - UNLESS THE PROBLEM IS DEEMED BEYOND THE APPLICANT'S CONTROL (more on this below)

NOTE: some or all of these may not apply if you or your buyer has a 620 credit score or better

  • More than one - 30 day late in the past 12 months
  • Bankruptcy or foreclosure in the past 36 month
  • Outstanding tax liens or other government debt which are currently past due (age doesn't matter)
  • Outstanding judgments
  • Collection accounts or charge-offs within the past 12 months
  • Collection accounts (age doesn't matter) which are currently past due with no payment arrangements
  • Two or more 30 days late on rental payments in the past 36 monthsKey

The following may be considered mitigating circumstances and may be taken into consideration.  Documentation of these are key!

 NOTE: Mitigating circumstances are temporary in nature, beyond the applicants control and must no longer be a risk factor when considering the application. 

Some mitigating factors are:

  • Loss of job
  • Delay in or reduction of government benefits
  • Illness or death of a primary wage earner
  • Image of Armstrong CountyI specialize in Armstrong County (Kittanning, Ford City, Elderton, East Brady, Worthington, Rural Valley and Templeton).  Every single property located with in the Armstrong County lines is eligible for this loan. 

    Click here to find out if the property you're buying or selling qualifies. 


Click here for Advantages of the 100% Financing Guaranteed Rural Housing Loan Program - Buy with No Money Down

To learn ways to help your credit score, click on 10 FREE Ways to Improve Your Credit Score and Raise Your Fico STARTING TODAY

If you want to see if you qualify, you can do so online by clicking here

1MMPlease contact me directly at 724-783-7180 or email me at  jkladny@hotmail.com for more information.  Thanks!  JENNIFER KLADNY - Loan Officer - 1st HouseMetropolitan Mortgage 115 East Pennsylvania Avenue, New Stanton, PA  15672.


Licensed by the Department of Corporation under the California Residential Mortgage Lending Act.  Licensed by the Pennsylvania Department of Banking.



Comments (5)

Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC
Hello Jennifer,
Sounds like a good program but I must admit I know nothing about it.  
May 05, 2008 01:50 PM
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA
Hi Cynthia - it is a wonderful program that not too many people are aware of.  It is available nation-wide, so you can definitely use it in your market!  JENNIFER
May 05, 2008 11:07 PM
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC
Hi Jennifer. This is a great program that we do alot of in my area. You have to be careful and make sure that your property qualifies as  some of the most obvious properties don't.
May 05, 2008 11:25 PM
Daniel J. Brudnok, REALTOR
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA


What a great program......thanks for sharing.

Also, thank you for enlightening me to the USDA Guaranteed Rural Housing Loam Program....I will keep it in mind.

May 08, 2008 01:55 AM
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA
No problem Dan!  Thanks for checking it out!
May 08, 2008 08:40 AM