19th Nov 2009 by Burt Carlson
The rural loan program is sponsored by the US Department of Agriculture Rural Housing Services (RHS) and is designed to make home ownership more affordable for borrowers in rural communities. Its features include;
No down payment,
No minimum credit score,
No mortgage insurance,
30 year fixed rate loan at market rates,
No reserves are required.
The property to be purchased must be in a designated rural area and the borrower (s) must meet RHS income guidelines.
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