OfflineThese loans won't help investors with purchases but they can help the investor get a qualified buyer. The US Department of Agriculture (USDA) has a rural development home loan program for low income buyers in cities under 20,000 in population. The loans require little to no down payment, except closing costs, and offer long term fixed rates-currently 4%.
The USDA typically has an office in each county outside metropolitan areas. Look in the white pages under U S GOVRENMENT, Agriculture Department and speak with the rural development specialist for contact information. You can then send interested buyers to them.
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Thanks for the information, I have a duplex in a small city and maybe I can get a buyer for it using this USDA loans.
Daniel
"Don't compare your life with others. You have no idea what you are getting into."
"No compares tu vida con otros. No tienes ni idea de lo que se trata tu travesía."
Do you know how good of a credit you need to have to qualify for this kind of loans?
Daniel
"Don't compare your life with others. You have no idea what you are getting into."
"No compares tu vida con otros. No tienes ni idea de lo que se trata tu travesía."
I want to say its 620 or maybe 650...
I actually contacted USDA and they gave me a lot of info and sent me an application. One of the tenants is interested on the property, hopefully his credit is good enough to qualify for the loan.
Thanks.
Daniel
"Don't compare your life with others. You have no idea what you are getting into."
"No compares tu vida con otros. No tienes ni idea de lo que se trata tu travesía."