Home Buying in Bowling Green>Question Details

Laura Pryor, Home Buyer in Bowling Green, KY

Can you purchase a forclosed home with a Rural Developement Loan?

Asked by Laura Pryor, Bowling Green, KY Thu Oct 11, 2012

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3
John Burns’ answer
Hi Laura,
The Rural Development loan criteria is more about the quality and the location of the home, rather than who the seller is. As long as the home meets the qualifications, then I would not think a foreclosure is an issue. Good luck,
John Burns.
0 votes Thank Flag Link Thu Oct 11, 2012
Hi Laura,

You sure can as long as the home is located in an eligible area and it will pass a standard FHA appraisal. This means the home has to meet HUD/FHA heath and safety standards.

Please feel free to contact me for more information or help with your USDA mortgage. You can also find more info on my USDA mortgage website by clicking the link below.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust Co.
(877)228-9069
0 votes Thank Flag Link Thu Oct 11, 2012
You can. But the home has to be located in the county and cannot be in the city limits or an annex area. Obviously it still has to qualify from an appraisal's standpoint. I would be honored to help you with your next home search and find a property that will fit your needs. Please contact me at (270) 792-3140 and we can arrange some time to begin the process.

Jim Cummings
ERA Premier Realty Partners
0 votes Thank Flag Link Thu Oct 11, 2012
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