THE USDA RURAL DEVELOPMENT LOAN ROCKS

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No down payment, fixed rate, low interest, no mortgage insurance. Rocks.

This mortgage is available for people buying houses in eligible areas, basically anywhere outside of major metropolitan regions. I live in South Dakota, where the entire state is eligible except for the bigger cities. Again, South Dakota, so I use the word ‘cities’ loosely.

There are income caps to watch. If your income is above the line, you’ll need to find a different loan. Check the income chart carefully, though. The income limits are bumped up for households with 5 or more people. Also, if you can document child care or medical expenses, you may be able to use them to offset your income if you are close to the line for being eligible. The income caps are only in effect for the day you apply. If you hit the lotto six months after you move in, you still keep your loan.

This program is a phenomenal deal for those who qualify and are looking to buy a house in an eligible area.

Share this video. And call or e-mail me if you have questions on this program.

Note: Please do not email personal financial information.
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Contact

605.359.9463

kcarlson@plainscommerce.com

Meet Kevin Carlson

Mortgage banker, husband, dad and marching band dude – Kevin does it all. On top of coaching award-winning marching bands and driving his kids to events, Kevin has been helping people find the best home loans since 1997. He is not only knowledgeable of the mortgage industry, but has a serious knack for making the complex simple; a trait his customers have grown to love him for. Whether you are financing your third home or buying your first, give Kevin a call with any home financing questions.