Close

See current mortgage rates on Zillow Mortgage Marketplace

Profile picture for mountaindawn

What are the rates on the rural mortgage program?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 24 2009 - Anacortes
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (4)

mtndawn,
first, consider you market place; since the USDA rural program has no limit of closing cost that can be paid by the seller.  ask you RE agent what thier success rate is with seller credits; reason, with 1-2% percent extra you can have a swing of 0.25 to 0.75 to rate. this is major factor to consider while purchasing.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 25 2009
I agree with the previous answers, the "CNN" mortgage rate of the day is for the perfect average that does not really exist.  A loan professional will need more information to give a good faith estimate.

For the USDA Rural Housing.  Here is a link to the site where you can search the areas you are looking in and also reference the income limits.  The location of eligible areas and also verification that your income is within limits will save potential frustration later.  The site is very easy to get around.

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 24 2009
I agree with Kenton, try filling out a loan request through Zillow.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 24 2009
Well, a lot depends on your scenario (credit, income, assets, etc) but if the property is eligible for the program and everything else on your scenario meets the guidelines, then you could be in the mid 5's on a 30 year fixed.

I would recommend putting your information in the loan request section on Zillow and specifically saying that you want a rural loan (im assuming for the 100% finacnning option, right?).

Then sit back and watch the quotes come in :).

Thanks,
Kenton Becker
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
June 24 2009
 
Related Questions
What are the rates on the rural mortgage program?
Profile picture for Justin Kennedy
Latest answer by Justin Kennedy
June 25 2009 | 4 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 4113 D Ct, Anacortes, WA Home For Sale
    4113 D Ct, Anacortes, WA 98221

     For Sale: $609,000

    • Beds: 3
    • Sqft: 3899
    • Baths: 3.0
    • Lot: 15246
  2. 5707 Kingsway, Anacortes, WA Home For Sale
    5707 Kingsway, Anacortes, WA 98221

     For Sale: $989,000

    • Beds: 3
    • Sqft: 3582
    • Baths: 4.0
    • Lot: 11761
  3. 2006 Highland Dr, Anacortes, WA Home For Sale
    2006 Highland Dr, Anacortes, WA 98221

     For Sale: $168,900

    • Beds: 0
    • Sqft: --
    • Baths: --
    • Lot: 9583