You decided you prefer non-city life. You found a home situated amongst the trees and open fields that you love. Now you need financing. There are several loan programs you probably could use, depending on your credit, income, and debt ratio. They include conventional and FHA loans. However, there is a great program for government home loans for rural areas – the USDA loan. Qualifying for this loan is simple and it does not require any … [Read more...]
How to Tell if a Home is USDA Eligible
USDA loans have flexible guidelines and don’t require a down payment, but not everyone qualifies. Sometimes it’s not you that doesn’t qualify, though, sometimes it’s your house that doesn’t qualify. Get Matched with a Lender, Click Here. The USDA has specific requirements for any home bought with a USDA loan. Keep reading to learn if your home qualifies. It Must be Rural First, the home must be located in a rural area. You … [Read more...]
The Top Factors to Consider When Buying a Rural Property
If you prefer country roads to city roads and large lots versus small, you may be better suited to a rural property rather than a city home. While a home is a home, there are certain things you’ll need to consider when buying a rural property versus a city home. Compare Offers from Several Mortgage Lenders. The Water Chances are that you aren’t going to get city water when you buy a rural property. Instead, your water supply will … [Read more...]
Find Out if Your Home is in a USDA Eligible Rural Area
USDA loans are often thought of as farmers’ loans. People consider them only when they think about purchasing a farm or an area with a lot of land. This, however, is not what the loan is for – it is for homes that are located within a rural area. Understanding not only where rural areas lie, but what areas are considered a USDA eligible rural area can help you determine if you could apply for a USDA loan. Finding a USDA Eligible Rural … [Read more...]
What is an Easement Appurtenant?
All properties have easements. They usually get put in place when the subdivision is created. The easements are often for a variety of reasons including power lines, phone lines, or gas lines as a few examples. Looking for Current Mortgage Interest Rates? Click Here. There are three types of easements – easement in gross, easement appurtenant, and prescriptive easement. In this article, we’ll discuss easement appurtenant in … [Read more...]
Are Home Appraisals Public Record?
You pay for an appraisal on a home when you buy a home or refinance your current mortgage. Contrary to popular belief, though, the home appraisal isn’t public record. The only people that know the value of the home are you, the lender, and the appraiser. Looking for Current Mortgage Interest Rates? Click Here. Home Appraisals Don’t Get Recorded Unlike your mortgage or deed, home appraisals don’t get recorded by the county. Now, … [Read more...]
Follow these Tips to Make Your Rural Home Purchase Offer More Attractive
If country living is your thing, you may want to find a way to make sure you win the bid on your dream home. While the competition may not be as steep out in rural areas, you still have to ‘woo’ the seller into accepting your bid. Looking for Current Mortgage Interest Rates? Click Here. Keep reading for simple tips on how to make your bid as attractive as possible. Know the Seller and What They Need Buying a home means that you are … [Read more...]
What are the Advantages of Buying a Rural Home?
If being able to see inside your neighbor’s window doesn’t entice you, rural living might be a good choice. A rural home often provides many benefits you will not get in a suburban home. Of course, you must be comfortable living without neighbors and dealing with well water. For some people, though, the benefits of rural living far outweigh the unique aspects of it. Land, Land and More Land Perhaps the largest benefit of a rural home … [Read more...]
5 Things to Consider When Buying Rural Residential Property
Buying rural residential property can be a dream come true for many families. The beautiful land, peace and quiet, and lack of traffic can be just a few of the reasons you want to move into a rural area. Before you make the jump, though, you should know what you need to watch for in order to make your move a profitable one. Understand the Utilities When you purchase a home in a suburban area, you have access to electricity … [Read more...]
