As I continue to attend advanced real estate classes, I am continually amazed at all the information that is both available - and vital - for marketing real estate. Whether you are buying or selling - what you don't know can cost you big. So - use a licensed agent ! But, that's not what I'm writing you about today.

Most people know that there are a number of different ways to finance a new home. Everyone has heard of FHA, VA and, of course, "Conventional". Did you know those "big three" are only a small portion of loan programs available to you today? Many banks have customized programs to address the needs they see in their local market. So - what's the lesson ?

Don't assume you know how you will finance your next real estate investment !  Call your favorite bank or mortgage company, make an appointment, and have them tell you what is avalable. You would be surprised !

For instance - have you ever heard of a "Rural Development" loan ?  No - it isn't for buying farms.

It is a Federally guarenteed loan program that will allow you to borrow 100% of the loan value, and finance many - if not all - of the closing costs ! A 2% pre-payment will also relieve you of any Private Mortgage Insurance payments ! That payment can also be financed. Throw in some "seller assistance" and "viola !" - no money down, 100% financed. A credit score in the low 500's will be acceptable too.

There are some restrictions, the most important one being that the property is located in an "RD" zone. If you know the address you can go to http://www.rurdev.usda.gov/MO/ to find out if it qualifies.  For this area, think Oronogo and Carl Junction to the north, and Seneca to the south. But - be sure to check out the actual address. You will be surprised how much does qualify.

And if you are SELLING a home in one of these areas - you need to MARKET the "RD" opportunity !  Heard of Greystone Estates in Webb City (Oronogo), Jason Place on hwy 96, or Northtown Village? ALL are in RD qualified zones !

If you are looking to buy - surround yourself with current information and professional assistance. Both are free. I will bet you will find that you have many more opportunities than you previously thought !