Individuals or families who plan to occupy a home located in an eligible rural
area as their primary residence may qualify for a USDA Rural Development home loan.
Could you imagine only being able to buy stocks in companies located in the same
area as your primary residence?
Not exact matches
• Be a citizen of US, US non-citizen or other Qualified Alien • Property must in designated rural
area • Have income less than 115 % of the median income in the county • Must occupy the dwelling
as primary residence • Must have the legal / financial capacity to incur loan obligations • Shouldn't be suspended or disqualified from participation in federal programs • Establish will to timely meet credit obligations
While there are valid arguments at this time
as to whether one should rent or own their
primary residence given the absurd amount of debt most are carrying on their principal
residence along with artificially cheap money and the boomer influx about to hit the real estate markets across Canada over the next few years it would seem you are okay in that
area.
The purpose of this loan program is to enable eligible low and moderate income (up to 115 percent of the
Area Median Family Income) rural residents to acquire modestly priced housing for their own use
as a
primary residence.
Pay off your
primary residence first, all day every day, then open a HELOC for
as much
as you can get (not pitching HELOCs, I very rarely do them, and mostly refer them out to other lenders in the Bay
Area that do them).
I myself own a property in Racine which was my
primary residence for a short time until I divorced my wife and moved to Chicago... I had it built (stupid, I know but it was what the lady wanted) and ultimately couldn't sell it when I moved
as it is in a new subdivision and there are a lot of nicer, bigger, slightly older homes for sale in the
area for less than what I owed on my loan, plus there are more than a few foreclosures / vacancies in this neighborhood.
I'm looking to get into my first brrrr deal
as a
primary residence for the bay
area, but concurrently looking for cash flow streams
as I am priced out.
The purpose of this loan program is to enable eligible low - and moderate - income (up to 115 percent of the
Area Median Family Income) rural residents to acquire modestly priced housing for their own use
as a
primary residence.