Ask O: 100% Financing?

Dear Olivia,

Is it still possible to get 100% financing?

A perfect question for June since it is National Homeowners Month!

Yes!  We are very fortunate to live in a rural location and have the Rural Development Program in our area!  One of the many advantages to living in a small rural community such as ours!

The Rural Development program does have specific requirements and you must meet those requirements to qualify for the financing.  Some of the requirements have to do with maximum household income, there are credit score requirements and debt to income ratios very much like other financing types, however they are expanded offering a little more flexibility for a Buyer whose debt might be slightly higher than perfect, or their credit might be a point to low for another type of financing.

To make it even better RD offers a guarantee program through our local lenders, so you can work with a local lender to get your loan.  Offering you the ease of having someone you can meet face to face and talk to them about any questions or concerns you might have.  This program makes it easier for the local lender to get you terms they might not otherwise be able to get for you, and in some cases you can close even faster than with conventional financing.

There are other terms that can be beneficial,  smaller $ amount for private mortgage insurance, potentially the ability to get 102% financing to cover Private Mortgage Insurance amount, and since Rural Development is or Rural Areas, they better understand our unique housing situations!

If you would like additional information on RD financing you can contact me at or call one of our local lenders!  We are here to serve!

On a side note we are proud to be offering our newest cooperation with Paws for Life Animal League.  “Finding homes for people and critters”  Like us on Facebook, we will be helping Paws to find homes for the critters via both their Facebook page and ours!

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