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So What Is A USDA Rural Home Loan?

Dec. 28, 2008
A FarmWhen you think of USDA I know the first thing you think is USDA HOME LOAN FINANCING!  Right?  Actually, if you’re like most Americans you probably think of Milk, Cows, Pigs, Corn, Farms and a beautiful farm house.  Anything but mortgages.
Rural, really isn’t all that rural.  Here is a picture of a farm, and you’d have to go to Farmer Mac to finance it.
A USDA Rural Home Loan is designed to help families in areas that are “designated” as rural to get into a home with zero money down!  In Louisiana the average cash out of pocket to buy a home is “currently” $158.70 and USDA Rural Home Loan demand has BOOMED upward by 475% over the last 12 months.Rural HOme
Here are a couple of hot buttons for those considering financing a home:
  1. You can buy a home without a down payment
  2. You don’t get charged an expensive (or any) monthly mortgage insurance payment
  3. Credit requirements are VERY FLEXIBLE
  4. A Rural designation may may look and feel like the burbs.
Stay tuned for maps of rural designated areas! 
As always, if you are thinking of USDA Home Loan financing a home for any reason give me a call.
The USDA Rural designation might surprise you.  The USDA says that the property must be designated as rural by the Rural Housing Service (RHS) and some designated rural areas actually look and feel more like the suburbs.  In Louisiana, parts of Louisiana area in Louisiana has the coveted USDA Rural designation, some of Louisiana's Towns are Rural areas.  If the home you are interested in buying has the USDA Rural designation, you have a terrific opportunity to obtaining the most cost efficient, lowest payment home loan available.
To see if a property is eligible you can call or our office at (225) 924-2715.  If you don't yet have a specific property in mind, just print out the map for the area.  Or you can search the USDA Rural Property Eligibility Database for the property address. 
What Qualifies As USDA Rural?

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Louisiana Home Mortgage USDA Loans

Baton Rouge, Louisiana

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