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Rural Mortgage

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Rural mortgages are good to go with Centex Capital

rural mortgageDid you know the U.S. Department of Agriculture offers housing loans and Centex Capital can help get you one of those specially designated rural mortgages? The fact is USDA offers borrowers in specially designated rural areas — some of which will surprise even urban dwellers — 30-year fixed guaranteed rural housing loans.

The Rural Housing Service, or RHS, is an USDA agency assisting people just outside metropolitan statistical areas to get better access to affordable housing financing. These rural mortgage loans don’t require any money down and credit scores starting at only 620. They don’t require any out-of-pocket expenses. This lets people get into affordably priced homes with money left over to start businesses and pay off other obligations.

Rural mortgages are available to moderate- and low-income borrowers who qualify with less than 115 percent of median area income. The qualifying rural areas are designated by RHS guidelines. Single-family properties don’t have to be farms, but can be owner-occupied residences, PUDs, and even condos. New construction is eligible.

Rural mortgages through RHS are available for as much as 100 percent of loan-to-value market appraisals, including all closing costs, recurring or otherwise. Streamlined financing options are available. Conforming loan limits apply and no reserve requirements or asset requirements are allowed.

With so many options and possibilities available, borrowers benefit greatly from the hands-on guidance of Centex Capital professionals who know the real estate markets and rural mortgage programs on a daily and intimate basis. This gets homeowners into new properties with as little hassle as possible. It also results in arranging the best fitting programs at the best rates.

For more information, fill out Centex Capital’s easy-to-use online form for no-cost, no-obligation professional consultations. Feel free to e-mail Centex or call toll-free with any questions or to schedule an in-depth appointment.

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