If some of you have been around the real estate industry for several years as I have, and if you tried to do a rural development loan several years ago, you are in for a pleasant surprise. This program use to be expremely difficult to get a home approved. The great news is that has changed, and Rural Development guidelines are now very competitive with FHA and other loan programs. But their advantage is no down payment out of pocket.
Even more good news is that some of our funding sources here in Louisiana are still writing these loans on the conditional commitments even with all the confusion in USDA.
What are the advantages of RD funding? Here is a brief video to explain:
These loans apply to many Baton Rouge Area rural areas in Livingston, Ascension, Iberville, and the Felicianas.