100% Loans for Your Buyers Still Available in…

12. Dec, 2008 3 Comments

Yep, there is ONE place where your end buyer (not us investors) can still get a 100% loan. Rural America!

So, that’s good news for you rural investors. If you’re rehabbing and/or flipping in rural areas defined as “open country and places with a population of 10,000 or less and—under certain conditions—towns and cities with between 10,000 and 25,000 residents” then be sure to check out USDA loans.

The US Department of Agriculture is offering the loans and you can learn more at:

http://www.rurdev.usda.gov/rhs/sfh/GSFH_Information/GSFH_Specific.htm


Financing, Rehabbing
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3 Responses to “100% Loans for Your Buyers Still Available in…”

  1. Robert Kim Reply 12. Dec, 2008 at 12:26 pm

    Thank you, Susan, for the great information. One caveat, though: I found out the hard way, though, that the house cannot be on a private road but must be on one owned and/or maintained by your state, county, or the federal government or else USDA will not make the loan.

  2. Susan Lassiter-Lyons Reply 15. Dec, 2008 at 12:54 pm

    Thanks for the tip Robert. I guess they like it to be rural but not THAT rural. Aren’t you sick of mortgage rules? :-)

  3. Benjamin Kruell Reply 31. Dec, 2008 at 1:53 pm

    Susan,

    Great post! I have been using this loan for about a year now and have made it part of my core business.

    Thanks for educating and spreading the word to people on the USDA loan program.

    Happy New Years!

    Benjamin