Michigan Rural Development Loans, USDA Rural Development, Michigan Rural Housing

Michigan Rural Development Loans

Rural Development loans allow first time home buyers or previous home owners to purchase their new home with 0% down payment and allows the seller to pay up to 6% of the sale price towards your closing costs keeping your out of pocket expenses low!



Rural Development Loan Features

 

General Requirements

  • Credit score minimum of 620.  No scores are acceptable with a blank credit report (nothing good or bad).  However, 3 non-traditional credit references will be required.

  • No previous mortgage loan late payment in the past 24 months.

  • No foreclosure in the past 36 months.  Possible within 18 months with extenuating circumstances.  Must have rebuilt credit.

  • No bankruptcies in the past 24 months.  Possible within 18 months with extenuating circumstances.  Must have rebuilt credit.

  • All court ordered judgments MUST be satisfied or have a satisfactory payment history.

 

GET PRE-APPROVED FOR YOUR MICHIGAN RURAL DEVELOPMENT LOAN NOW!