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Sunday, March 20, 2011

Rural Property USDA Loan: Is it an option for you?

I have had several clients use a Rural Property Loan for buying their home this year. It has some advantages for buyers, as long as the property and the client qualify for the loan.

The big advantage in using this type of mortgage - also known as a USDA Loan - is that usually most of the closing costs and the down payment can be rolled into the loan, making it very attractive to buyers.
flickr photo courtesy of crimfants

This type of mortgage transaction is the closest thing that you can get to "zero-down" at closing.

The purchaser must meet certain qualifications, and the property has to be located in a area considered to be "rural". Some of those local areas include Brighton, Chelsea, Howell, Dexter, Milan, and even sections of Ypsilanti.

Want to learn more about the loan and the areas that qualify? Click this link for resources on the topic.

Many communities on my new website qualify for this type of mortgage.

Wonder if you would be a candidate for this or another type of loan? Contact Doug Welch with Allied Mortgage.



Chris Glahn is a licensed Realtor in the state of Michigan and is with Keller Williams Realty in the Ann Arbor Market Center. He has vast experience as a Buyer's Agent (one who represents buyers) at all price points, and can be reached at 734-730-3403 or via email