What are the qualification for a rd loan

Blake,Each State has guidelines, here is a website you can use to see the overall program- http://www.rurdev.usda.gov/LP_Subject_HousingAndCommunityAssistance.htmlHere is the link to calculate your household income to see if you are under the limit or over. http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income@11Here is the property search link to see if the home you are interested in qualifies as well. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.doMost lenders do not do RD loans, and even if the bank does, most of the actual lenders do not do them on a regular basis. Even though I can write RD loans in your location, I am going to advise you to contact a reputable realtor in your area and ask their advice for a lender who has RD loans as one of their specialities. It will reduce your stress greatly to work with a lender that does them regularly.If you have questions please feel free to email me at jschnell@bncbank.comRegards,Jeffrey SchnellBNC National BankNMLS 409473316-206-3158

You can read the guidelines on USDA's website, however, you might not fully understand them if your not in the mortgage business.. It's best you contact a LOCAL mortgage broker and apply with them. Let them look at your complete scenario and if you don't qualify, they can tell you what steps would be necessary for you to be able to qualify in the future.. but I caution you... Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

See the complete answer Jeff gave you.

Blake As far as credit generally the minimum is 600 for RD Loans Thank you