What is Rural Development money?

Hopeful
Hopeful
Both Buyer and Seller
McAlester, OK

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?

Mon Jun 8 2009, 09:24 - Financing in McAlester - 2 answers
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Dana Schuster
Dana Schuster
Agent
70461

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.

Mon Jun 8 2009, 11:07
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Bekah Casaday
Bekah Casaday
Agent
Gardendale, AL
FIRST ANSWER

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.

Mon Jun 8 2009, 09:38
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