Financing in McAlester>Question Details

Hopeful, Both Buyer and Seller in McAlester, OK

What is Rural Development money?

Asked by Hopeful, McAlester, OK Mon Jun 8, 2009

Am told a couple who is interested in our home has this but I've never heard of it. The realtor said there are guidelines but my house will meet them. Anyone know?

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it also means that your house is priced within the loan limits for RD in your area. For example,in my area, in order to qualify for RD,a house must be priced below $170K.
0 votes Thank Flag Link Mon Jun 8, 2009
Rural Development is a type of loan, sometimes called USDA. It is a 100% loans and one of the few that are still available these days. It is very good that your home qualifies for Rural Development. This means that your home is in a geographical area that the USDA will accept as rural.
0 votes Thank Flag Link Mon Jun 8, 2009
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