Recently, we’ve had a number of young buyers enter our market who are short on cash. They have great jobs, good incomes, and they’re highly qualified for financing, but they don’t have much in the way of savings.
A great alternative for a buyer like this is a home in one of the surrounding areas in St. Cloud where we offer rural development financing, which requires zero down payment. These loans are available in the Rice, Clear Lake, Clearwater, Richmond, and some of the outlying areas.
One of the advantages of rural development financing is it’s very similar to an FHA loan. It’s a 30-year fixed rate loan with very attractive interest rates, reasonable closing costs, and no down payment. In fact, sometimes we can even build in the closing costs so you can get into a house with hardly any money down at all.
If you’re interested in rural development financing or buying a home in one of these outlying areas or you have any other real estate needs I can assist you with, don’t hesitate to reach out to me. I’d be glad to help you.