Strategic Home Capital Rural Development Loan

Strategic Home Capital Rural Development Loan
 
This loan is allows buyers to purchase a home or build a home in a rural area with essentially no money down.  This is one of the few affordable loan options available today.  We can help borrowers with median credit scores as low as 580, that have current payment history, no recent foreclosures or bankruptcies on their credit history.  The applicable interest rates are very affordable, and the loan process is typically the same as with any FHA loan.

  • Strategic Home Capital’s Rural Development Loan
  • Borrower’s can get up to 102% of the appraised property value.
  • The onetime 2% Guarantee Fee can be included in the financing
  • No Mortgage Insurance is required, because it is a government guaranteed loan
  • This loan be used for a existing home or new construction home
  • No loan size limits, but there are maximum income limits for the borrower that are based on the number of residents and the county where the property is located.
  • No limits on Seller Provided Gift
  • Property improvements and renovations can be included in the loan, and the additional costs can be escrowed.  Additional improvements are limited to the final appraised value of the property.
  • Loan is not limited to first time buyers.  First time buyers must attend an approved certified class to qualify.

To learn more about this fantastic loan option or to get pre-approved, then contact your Strategic Home Capital Loan Officer today!