Typically, when you think rural, the smell of cow dung and the sugar factory come to mind. But when it comes to the USDA Rural Loan, the first thing that comes to my mind is, “Do I qualify”? Throughout my business week, I usually hear the question, “Can you still find anybody to give you a loan”? The answer of course is a resounding YES! Not only is there financing available, there is 100% Financing. The loan is through the USDAand it is available only in certain areas that are considered ‘rural’ according the USDA eligability guidelines.
The 3 areas where you might be eligible for getting one of these loans are Kuna, Middleton and Star. Because it’s rural, doesn’t mean that you will be living on a farm (unless that’s what you want); there are plenty of homes that are offering nice community amenities like pools, walking paths close to the Boise River, neighborhood parks and good freeway access. One such neighborhood that defies the term rural is Heron River in Star.
But as I always caution, make sure you make your decision wisely because there are costs associated with buying in an area away from the center of town – some are financial and some are psychological. If you work in Downtown Boise, moving to Kuna may not save you money especially if you are gobbling up 5 gallons of gas just to get there on a daily basis! Not to mention dealing with the daily commute or being stuck in traffic. On the otherhand, don’t let those things stop you because the Treasure Valley Commuteride and Ridesharing Program offers an opportunity to park your car and pool your way to work.
If you are looking to buy a newer, more affordable home or know of someone who is and living in Kuna, Middleton or Star is within your liking, this may be just the perfect opportunity for you. Save your down payment in a reserve account for mortgage payments in the future, for unexpected repairs or maybe even some upgrades!
If you need more information please contact me!
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Aaron, this is great info. thanks for sharing!
Thanks for the update!!
Wow, That’s amazing that you can buy a home there for nothing down. Especially in these times. Here in California the lowest you have to put down is 3.5% for an FHA loan.