Arkansas Rural Development loan|Rural Development Mortgage Arkansas

Arkansas Mortgage

1-501-951-0306

Arkansas Mortgage

1-501-951-0306

home loans

                        BREAKING NEWS
                 Dramatic decrease in Mortgage
                                Rates. Don't Wait!
                      No Obligation, fill out form below

                        BREAKING NEWS
                 Dramatic decrease in Mortgage
                                Rates. Don't Wait!
                      No Obligation, fill out form below

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FREE CONSULTATION
Have one of the professional loan consultants from The Mortgage Bank of Arkansas help you find the best loan to fit your financial needs.

MORTGAGE CALCULATORS
Find ways in which you can save money. I figure your payments, find out if you should rent or buy, etc.

PREQUALIFICATION

Find out if you can afford that dream home you always wanted. Fill out or short form and one of our professional Loan Consultants will be in contact with you to find the best program to fit your needs.

TMBA IN THE NEWS

FREE CONSULTATION
Have one of the professional loan consultants from The Mortgage Bank of Arkansas help you find the best loan to fit your financial needs.

MORTGAGE CALCULATORS
Find ways in which you can save money. I figure your payments, find out if you should rent or buy, etc.

PREQUALIFICATION

Find out if you can afford that dream home you always wanted. Fill out or short form and one of our professional Loan Consultants will be in contact with you to find the best program to fit your needs.

TMBA IN THE NEWS

Arkansas Rural Development Mortgage

When FHA did away with seller contributed gift funds, the USDA better known as Rural Development or RD loans became one of the two programs of choice for buyers looking for 100% financing (VA being the other). Arkansas home owners are not new to RD loans but they have become a much more sought after product in the last 2 years. Here are a few of the highlights of the RD loan program:

No down payment - true 100% financing
No monthly mortgage insurance
No cash reserves required
No asset limits: you may keep liquid cash savings and other investments
Not just for first time homebuyers - anyone may qualify
Loan up to 102% of the appraised value - the 2% guaranteed fee may be added to the loan amount regardless of appraised value.
Competitive 30 year fixed interest rates

Eligible USDA Rural Designated Areas in Arkansas

In order to qualify for a USDA home loan, the property that you are buying needs to be located in a designated “rural” area. To see whether or not a property is eligible for RD financing, you can see the USDA eligibility map and search by property. Make sure you contact an expert when obtaining a Rural Development Mortgage

If you are considering purchasing a house in an area that is designated “rural”, the RD loan is the way to go. On top of the high Loan to Values, RD loans also come with very good interest rates. Please feel free to contact us anytime about an Arkansas Rural Development loan.

When FHA did away with seller contributed gift funds, the USDA better known as Rural Development or RD loans became one of the two programs of choice for buyers looking for 100% financing (VA being the other). Arkansas home owners are not new to RD loans but they have become a much more sought after product in the last 2 years. Here are a few of the highlights of the RD loan program:

No down payment - true 100% financing
No monthly mortgage insurance
No cash reserves required
No asset limits: you may keep liquid cash savings and other investments
Not just for first time homebuyers - anyone may qualify
Loan up to 102% of the appraised value - the 2% guaranteed fee may be added to the loan amount regardless of appraised value.
Competitive 30 year fixed interest rates

Eligible USDA Rural Designated Areas in Arkansas

In order to qualify for a USDA home loan, the property that you are buying needs to be located in a designated “rural” area. To see whether or not a property is eligible for RD financing, you can see the USDA eligibility map and search by property. Make sure you contact an expert when obtaining a Rural Development Mortgage

If you are considering purchasing a house in an area that is designated “rural”, the RD loan is the way to go. On top of the high Loan to Values, RD loans also come with very good interest rates. Please feel free to contact us anytime about an Arkansas Rural Development loan.