Iowa USDA Rural Housing Loans from AFR
American Financial Resources is pleased to be an approved USDA Rural Housing lender for The Hawkeye State. If home ownership has been just out of reach, you may want to consider this special program. Originally designed in 1949 as a means to give individuals in rural areas the opportunity of home ownership, it is still going strong today.
Like so much of the Midwest, Iowa has experienced its share of rural flight. However, it appears that with a new focus on improving Iowan's quality of life, self-suffinecny, and the production of local agriculture, that trend is reversing. The good news is that with the USDA Rural Housing program, there are homes in both rural areas and outside metro areas that are eligible.
The Pros of an IA USDA Mortgage
- They are the only zero money down mortgage option available to individuals outside of the US military.
- There is no mortgage insurance requirement.
- Those with lower incomes and damaged credit may apply.
- Since the loans are 30 year fixed rate loans, the monthly payments are lower.
Since eligibility is based on both the home and the borrower, it is best to contact a USDA approved AFR mortgage specialist. With so many available properties in The Hawkeye State, give AFR a call at 800-316-9508 to see if your property qualifies. So regardless of where you are considering, from the rural areas near Des Moines, Cedar Rapids, Sioux City, and many more Iowa locations, you'll be able to find out which ones are eligible.