Neighborhoods and Activities in Baton Rouge

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Rural Development Funding

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.

 

Comment balloon 3 commentsAnn Dail • October 28 2010 04:17PM

Comments

This is a great program for the home buyer to consider they may even be able to get into a home with no money down. I just closed one last month my buyer was able to buy the home with no money down.

Posted by Pat Champion, Call the "CHAMPION" for all your real estate needs (Coldwell Banker Camelot Realty) about 9 years ago

Ann, this is great news as far as the programs being competitive now, and a SUPER reminder for all of us to consider this option if it fits our clients. Thanks.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) about 9 years ago

90% of the contracts I write are Rural Development Financing.  The turn time on RD loans used to be longer so we got in the habit of writing 45 day contracts.  Now that is getting faster to process and they are being processed very quickly.  USDA is an excellent loan if the buyer qualifies!

Posted by Marilyn Boudreaux, Lake Charles LA Century 21 Realtor (Marilyn Boudreaux, Century 21 Bono Realty) about 9 years ago

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