Wisconsin Rural and Illinois Rural Housing Mortgage Loans

Posted by Dennis Hardy on Mar 25, 2008

Wisconsin rural housing and Illinois rural housing mortgage loans are no money down loans available to homebuyers that meet income and property location eligibility requirements.

Determine if the property is within the Rural Development eligible area.

Determine if your adjusted household income is within Rural Development limits.

The Advantages of a rural housing loan:

No Down payment is required.
No private mortgage insurance (PMI).

     Flexible credit score guidelines.
     No maximum purchase price limit.
     Closing costs can come from any source including gifts.
     Competitive fixed 30-year rates.
     Up to 103% financing to roll closing costs into the loan.
     Non-traditional credit may substitute for lack of traditional
        credit history
     No Prepayment Penalty

Rural areas consist of communities that have 20,000 and under in population and are not a part of an urban area. The rural housing program can help you obtain 100% financing even in today’s market where no money down loans are not as available as they once were.

To learn more about Ameristar’s rural housing program visit our Rural Housing program page on our main site.

Dennis Hardy
Local: (608) 242-0826 x23
Toll Free: (877) 240-5840
dennis.hardy@ameristarmadison.com
www.AmeristarMadison.com

Visit my blog at http://www.ameristarmadison.com/blog/

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