Financing in Verona>Question Details

Chris, Home Buyer in Verona, WI

Rural Housing Direct Loan and Verona

Asked by Chris, Verona, WI Wed Sep 9, 2009

I have 2 small children and I qualify for a Rural Housing Direct Loan. I saw a 3 bedroom 1 bath home in Verona that I am interested in. My questions are, does this fit the "modest" requirement of the loan and is Verona an eligible area?

0 votes Share Flag Financing in Verona

Help the community by answering this question:

Answers

4
Chris, the Rural Housing Direct Loan program is the best kept secret in Verona! I am actually in the middle of a transaction involving a Rural Direct Loan program and done a lot of research regarding the qualifications.

To your question, basically everything south of Cross Country Road in Verona is eligible including the new homes south of the beltline.
As far as their definition of "modest", it is anything equal or less than the loan maximum for Dane County which is $225,000 the last time I checked. They will loan to both new and existing homes.

There are a few other great options with USDA that I can share with you.
All of Oregon, Cottage Grove, Cross Plains, and Waunakee are covered as well.

Madison Pro Realty
"home of the $1,000 signing bonus"
Phillip Harvey
608.217.7553
phillip@madisonprorealty.com
0 votes Thank Flag Link Sat Nov 23, 2013
Yes Chris Verona is a Rural qulifying community. If you need any specifics I am happy to answer those questions.

Eric Christianson
Mortgage Banker
BMO Harris
608-836-2114
eric.christianson@bmo.com
0 votes Thank Flag Link Wed Jul 3, 2013
Chris,

This is a question for a lender.......though you can look at information on a web page and assume you may or may not be qualified, it is best to seek out the attention of a local lender that understands the area. There are a lot of hidden disclaimers in the underwriting of all loans. I would hate to see you get your hopes up on a home and type of loan to later find out you do not qualify.

Seriously, lenders and/or realtors are professionals and want to help.....drop me an email if you want a lender referral.

Donna Birschbach - Broker Associate
#1 - sales volue 2009
Keller Williams
Madison, WI 53719
(608)444-4194
birsch@chorus.net
Web Reference: http://www.jdbirschbach.com
0 votes Thank Flag Link Sat Sep 11, 2010
Chris,

As a genearl rule, Verona is an eligible area. Here is a link to the RHD program. Enter in the exact address and it will show you the eligibility.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Contact me with any questions that you have.

Kristi Ross
Coldwell Banker
608-235-8780
kross@cbSuccessRealty.com
0 votes Thank Flag Link Wed Sep 9, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer