Booming Exurbs Will Keep Eligibility For Zerodown Rural Home Loans

Dated: March 19 2014

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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...
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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 25+ years in the industry, Mark has gained experience in....

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