Rural Mortgage Loans in Illinois and Wisconsin
Posted by madisonmortgage on July 20th, 2008
In today’s market all but three no money down mortgage loans have disappeared: FHA, VA and Rural Housing. We offer all programs but we will take a deeper look into the Rural Housing no money down program for this post.
Rural home loans are loans available for people who live in rural or country areas, and are meant to make owning Wisconsin and Illinois homes in those rural areas affordable for the average homebuyer. Rural loans are optimal for first time home buyers in approved Rural Housing Service areas.
Rural mortgage loans are available for single family, owner-occupied, primary residences.
Rural Home Loans advantages:
If the home you wish to buy is in an area that meets certain population criteria, Rural Housing offers loans on new and existing properties with cost-saving advantages. Here are some of the key features and program benefits:
- No down payment required
- No monthly private mortgage insurance
- Low rates
- You do not need to prove a certain amount of money in the bank
- Lower monthly payments than other rural mortgage programs
- Qualify now without waiting to save down payment funds
- More buyers have the opportunity for home ownership
- seller may pay your closing costs up to 6%
- You may not need to pay closing costs out of pocket
- No cash reserves are required
Visit our Rural Housing program page for additional Wisconsin and Illinois rural housing program requirements.
Dennis Hardy
Toll Free: (877) 240-5810 x104
dennis.hardy@madisonmortgageguys.com
www.Madisonmortgageguys.com
Visit my blog at http://www.madisonmortgageguys.com/blog/
Visit my rural housing blog post at http://www.madisonmortgageguys.com/blog/content/wisconsin-and-illinois-rural-housing-mortgage-loans/
http://www.madisonmortgageguys.com/blog/content/rural-mortgage-loans-in-illinois-and-wisconsin/
