Booming Exurbs Will Keep Eligibility For Zerodown Rural Home Loans

Dated: March 19 2014

Views: 215

Some not-so-rural-anymore areas will remain eligible for government-guaranteed, zero-down payment home loans under the farm bill to be signed this morning.

The U.S. Department of Agriculture’s rural development guaranteed home loan program was created to strengthen rural communities with populations of less than 20,000. But the program has, with Congress’ blessing, been using the population estimates from the 1990 Census to determine which areas are eligible.

The farm bill passed this week keeps those definitions in place until the 2020 Census.

That means parts of Portland’s fastest-growing exurbs — like Sherwood, Forest Grove and Wilsonville — have had access to zero-down financing that’s otherwise virtually disappeared in a risk-averse credit market. Read More Here...
cb
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

You Will Be Glad You Did These 4 August Tasks When January Comes

Take a few minutes out of your pool time this month to do these four tasks.Then you'll have more time to eat popcorn in front of the fire next January.#1 Call the Snow Plow NowIf you live in snow

Read More

13 Tips For Home Wildfire Protection

How do most homes ignite during a wildfire? A floating ember or piece of burning wood touches down on a roof, gutter, in a vent, under a deck, or on a porch and ignites leaves and debris, says the

Read More

What Happens After Foreclosure Moratorium Ends

Since early 2020, banks across the U.S. have been banned from foreclosing on homes as part of the federal government’s efforts to assist families feeling economic pain caused by the pandemic. On

Read More

4 To Dos For July To Save Money Get Ready For Fall

When it's hot outside, smart homeowners focus their energies inside on these four tasks.You know: Like taking advantage of your nice, cool basement.#1 Organize the BasementThe two most common types

Read More