You've probably met me face to face and don't even realize it. If not, you've certainly seen my cards pass through your office in the last six years. I'm the guy that was in your office with a smile, a free pen, and a Rural Development (RD) loan flyer. I'm here again to tell you why you need to find yourself a great RD loan officer to refer client to.
RD eliminates the most common deal killer. "Cash to close" kills more deals than anything, I am certain of that. Whether it kills deals in process or stops potential buyers from proceeding, the money a buyer has to bring to the closing table is the biggest obstacle in Michigan. RD eliminates this by allowing your borrowers to finance closing costs even above normal LTV guidelines. We don't need concessions to achieve stress-free financing for buyers.
RD has no down payment requirements. RD sees other ways to protect their own investment, but for most Michigan borrowers these requirements are not an issue. The last 100% financing available is Rural Development.
RD is set up for a first time home buyer. First time buyers ARE our market right now. They control our business, or at least mine. RD truly is for first timers. RD understands limited credit history- something FHA and Conforming just don't seem to get. Fannie loves someone overextended to the max that has never really paid a bill. TONS of credit elicits approvals with other financing. Why do we have a crisis again? Oh, yeah.
RD would rather see someone that isn't in a position of failure. Buyers that can't seem to qualify elsewhere because of this, but want to own a home...they will fit with RD.
RD is available in far more areas than you realize. I know it seems weird but look at Fenton. Fenton is a huge town with far more "metropolitan" area than Flint, yet everything in the 48430 qualifies. Really anywhere except inside Flint and downtown Grand Blanc qualifies. Go Fig!
RD has the absolute best interest rates. I've had Realtors tell my buyers that I could not deliver on the rate I quoted; only to have the buyer laugh all the way to the bank. I've had to show Realtors how I could deliver and end up with undying allegiance.
This is about the buyers, thought. FHA, Fannie, Freddie, MSHDA are like jokes next to RD. Granted, RD only finances certain geographical areas, but they dominate the areas they finance.
The final word. Try it once and you won't go back. Non-believers become believers. Find yourself a good RD loan officer and try them out. Your clients deserve to know what a great deal they can get, and MORE IMPORTANTLY those buyers that got turned down by Dort Federal, Citizens, and Mclair deserve to have a chance at financing that doesn't rely on their archaic guidelines!
For more information: Call Today or visit our website:
810-953-4266 or www.iconmortgagelending.com