Did you Know that it pays to Move to the Countryside? According to the USDA it does.
It seems that loan options over the past year or two have diminished greatly. Many complain of the huge barriers that seemingly exist that prevent them from home ownership. Did you know the USDA has Rural Development Housing loan. These guaranteed loans provide 100% financing with expanded ratios to qualify. Expanded ratios mean that if you carry more debt than might meet “conventional” loan guidelines, you can still possibly qualify. Unlike FHA there is not maximum loan guideline.
To view Rural Eligibility Areas please click the link. Once on the USDA site, click on “Property Eligibility” on the Tool Bar on the left side of the screen and click Single Family Housing.
Think you can’t qualify? Take time to look at their Frequently Asked Questions. From reviewing these myself it appears that they have no “minimum credit score” restrictions. You have to show that you are “adequately willing” to repay your debts. Furthermore, you want to renovate the property you are purchasing, do it with this loan product.
This is not for farms. It is for Rural Residences. Other than most of Athens and Watkinsville, there are plenty of areas around the Greater Athens area that would qualify.
If you are waiting for homeownership you may not have to wait any longer!
