Rural Development (RD) is a fantastic loan program but it is anticipated that they will be running out of money to fund loans by the end of April. I have listed the benefits of financing via Rural Development.

The major benefits are:

• 100% mortgage LTV based on the APPRAISED value
• Zero down payment and there is no minimum contribution required.
• No limit on seller concessions or gift
• No mortgage insurance
• No reserves required
• 30 year fixed rate only
• Lenders must be USDA approved
• Low interest rates, this is not a sub-prime mortgage
• Flexible Credit Guidelines.

RD does take a little longer to fund, therefore; your closing date may be pushed back. But it is worth the wait.

Your home must be in a RD area to qualify. You can ask you agent or your mortgage person for more information.

If you find a home in a RD area, do not wait. Funds are VERY limited.

Shauna Mason, ABR

Red Realty

www.shaunamason.com