castille mortgage Company helps you with
Rural Development Loans
Many of our clients believe there’s no place like a country home. With a Rural Development (RD) Loan, credit requirements can be flexible, and no down payment is required. Castille Mortgage can secure RD mortgage home loans for borrowers with FICO credit scores at 600.
These factors make RD Loans an attractive option, though there are limitations with location.
USDA home loans are made possible by the U.S. Department of Agriculture. USDA loans were developed for home buyers in less populated areas of the country, including many parts of Louisiana, and are intended to promote homeownership in these areas.
While this type of loan is also known as the USDA Rural Development (RD) Loan, you don’t need to buy a farm or live in a far-off rural area. Many USDA loans of this type are used in suburbs or on the outskirts of highly-populated cities.
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USDA Loan Benefits
- No down payment required.
- Lower mortgage insurance rates than other loan types.
- Flexible credit score requirements – Approval at 600 credit score.
- Loan can be used to make accommodations for a household member with a physical disability.
Your occupation does not impact the qualification process for an RD Loan. Eligibility is a matter of income and location, and while large metropolitan areas are generally on the outside of USDA programs, Castille Mortgage will explore all opportunities for you in suburbs and rural locations.
We can answer any questions and help determine if a Rural Development loan is the best mortgage loan option for you.