Rural or Suburban Living: Which is Right for You?

Are you thinking of purchasing a home?  With so much to consider these days, making the choice of purchasing a home in an urban, a suburban or a rural area may seem overwhelming.  Our lives today are fast paced and we are constantly on the move.  Due to this high pace, it can be easy to get overwhelmed.   At the end of the day when we get a little quieter, though, often we contemplate on the type of life we would like to have and reflect on our true value system.  We focus on our family and loved ones, our friends, our health, and the importance of having a peaceful sanctuary with room to breathe and relax.

Rural and suburban homes have become a respite from cramped city living for many families in recent years.   Urban areas have been hit hard with an all-time high in crime, a deteriorating infrastructure, financially strapped school systems, and jobs sprawling further outward from traditional city centers.   For countless families, suburban living has been a logical solution, providing safe communities with many choices for practical, affordable homes.  With short commutes, an overwhelming sense of community and healthy support for community services and school programs, life in the suburbs can be relaxing and ideal for raising a family.

A safe, clean, and affordable lifestyle is also available in areas beyond the suburbs.  Rural living offer low levels of traffic and transient noise, low levels of pollution, and the charm of privately owned stores and shops.  If you crave wide open space, and relish traveling the country mile, rural living may be for you.  Land costs are often much lower in rural areas too.   Home buyers are able to enjoy room for gardening or harvesting and simply enjoying the beauty of nature.  Home prices and property taxes are lower in rural areas which in turn offer a wider variety of homes from which buyers can choose.

Both suburban and rural areas can qualify for USDA 100% Loans, also known as Rural Development Loans.  This is advantageous in that the owner does not have to provide a down payment.  Call the USDA Loan Agency at 1-866-854-4242 to learn more about USDA 100% Loans, as well as specific benefits and savings that you may able to receive by purchasing your next home.

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How The Government Can Give Your Family A Good Holiday Season

You can get federal money to help your loved ones enjoy the holidays. You do not need to chose between having a secure dwelling and paying for gifts and food. You also do not need to be famous to have a sound abode. Country dwellers can qualify for USDA loans and Rural Development loans that will accomplish the same task.

Many people who dwell in sparsely populated areas dream of having safe structures. Their roofs and foundations might be crumbling.You may have a hard time fixing those things when you have other expenses.

Lots of folks think that the only way to fix their structures is to get themselves featured on television.  Very few people are chosen to appear on programs. Individuals who get USDA loans and Rural Development loans do not need to become famous to have comfortable homes.

If you live in an area that contains less than 20,000 people, the government will pay for your home improvments. Folks receive federal funds when they meet a short list of guidelines. You could get enough money to make your dwelling feel like a new structure.

You might be able to get government funds to help your family enjoy the holidays. You do not need to sacrifice their presents or food to give them a safe dwelling. It is not necessary to appear on a television show to get a house renovation. Country dwellers can qualify for USDA loans and Rural Development loans. That money can be used to fix your foundation, roof and other trouble spots.

Are you eligible for a Rural Development loan?

Apply for a USDA home loan now

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What To Do To Get A Government Home Loan By Your Wedding Day

Lots of couples plan a marriage and look for an abode at the same time. When you are looking to start a life in the country, you might wonder if you can afford the place of your dreams. To qualify for USDA loans and Rural Development loans, you must figure out what your combined credit score will be. You must also create a steady form of income.

Many couples plan their ceremony and hunt for a structure during the same time period. If you are looking to start a life in the country, the government can assist you. New homeowners can qualify for USDA loans and Rural Development loans.

In order to start the process of applying for one of those contracts, you must have a combined credit score greater than 600. It is important for both you and your future spouse to evaluate your financial health. Take the time to get your money in order. Read more about how  your credit affects your eligibilty for a government loan.

The other qualification folks must meet to get USDA loans and Rural Development loans is to secure a stable form of income. Most individuals do not make large amounts of currency when they begin lives together. This is acceptable as many folks who get government money do not have high incomes.

Many couples organize nuptials and hunt for a structure simultaneously. When you want to begin a country life, you could question your ability to find your dream home. To get federal money, you must know your combined credit rating. You should also secure a reliable income.

Are you eligible for a Rural Development loan?

Apply for a USDA home loan now

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Little Known Facts About USDA Loans And Rural Development Loans

Rual development loans at USDA Loan AgencyIf you are planning on getting federal housing funds, it is helpful to know the minor basics about these programs. You are permitted to have a higher income than that of your neighbors. Your contract will automatically have a term of thirty years. You will be required to pick a federally approved financial firm.

It is widely known that common citizens can apply for USDA Loans and Rural Development loans. Many people falsely believe that you must be in a low income bracket yourself in order to qualify for an inexpensive house. This is not true. You can actually make double the median income for your new neighborhood and still qualify for federal funds.

Potential lenders should understand that their contracts will last for thirty years. This detail of USDA loans and Rural Development loans becomes important when you look for a place to dwell. You must pick a home you will still want to occupy three decades from now.

The final small fact you need to abide by is that you cannot pick any lender you see on the Internet. The company you do business with must be approved to coordinate USDA loans and Rural Development loans. These include institutions approved by HUD and the US Veterans Administration.

When you want to buy a home with government funds, you should know the small facts about them. You can make more money each year than your future neighbors do. Your contract will instantly consist of 30 years. You will need to choose a government approved money company.

Are you eligible for a Rural Development loan?

Apply for a USDA home loan now


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Preliminary Approval Letter

One of the most important things in buying a house is getting a prequalification. Getting a prequalification not only allows you to know that you have the ability to buy a house, but it allows you to know what your price point is. It is an emotional roller coaster if you find the house of your dreams, but then you find out you are not eligible, due to your income or debts.   When you get prequalified, you are able to know that your credit situation is all set. Fixing your credit takes time; if you do not get prequalified then you can delay your closing unnecessarily.  Where when you go through the prequalification process you can figure out these situations upfront and deal with them while you are looking for the perfect house. When you get that preapproval you get that piece of mind, knowing your credit and income situation is all set. At the very least, if you are not eligible you will know what you need to do to become eligible. You will also have a timeframe where if you follow the advice from the loan officer you should be eligible in the future. You will be able to set a goal and achieve the dream of homeownership with a zero percent down loan.  I hope we can help you in this process of getting the best loan to suit your needs.

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USDA Announces Investments

Agriculture Deputy Secretary Krysta Harden made an announcement that USDA is investing in rural businesses and development organizations to spur economic growth in rural areas and in Tribal communities. The investments are part of the Obama Administration and there ongoing efforts to help rural and Tribal communities. They target communities that have the greatest need for assistance. USDA is targeting capital and technical assistance to small businesses and development organizations to help stimulate more business activity in areas that are struggling economically.

The USDA RBEG (Rural Business Enterprise Grant) and RBOG (Rural Business Opportunity Grant) programs provide the funding. RBEG help small and emerging rural businesses. RBOG program promotes sustainable economic development in rural communities with exceptional needs.

The grants are being awarded in areas designated as REAP zones (Rural Economic Area Partnership). REAP zones are areas that are considered economically distressed due to factors such as poverty, geographic isolation, declining populations or economic upheaval. Grants are also being targeted, predominantly through the RBOG program to federally recognized Native American Tribes.

USDA Rural Development has invested 6 million in REAP zones through the RBEG program. The grants have supported businesses and community projects across the country, creating or retaining 2,200 jobs. The RBOG have helped approximately 400 businesses and have created and/or retained about 2,100 jobs.

USDA funding includes more than 2.2 million for organizations in Vermont, New York and North Dakota. Nine organizations in Vermont are receiving RBEG and RBOG grants totaling nearly 1.2 million. They will use the money to develop businesses, help revitalize a downtown district, and create jobs across the state.

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Duck, Duck, Goose!

Get those ducks in a row and let’s start with this pre-approval.  Call CREFCO today and talk with your very own loan expert!!  Forget the automated call centers and long hold times… we have experts standing by : )


You have questions and we have answers.  Don’t wait and wonder, call now!!  All questions get answered and in full detail.  Don’t know where to start, no problem… we walk you through it all… Questions, expectations, qualifications, timelines, application, documentation, credit, pre-approval, payments, terms, rates, realtors, listings, sellers, negotiations, offers, purchase contract, seller paid costs, out of pocket costs, earnest money, appraisal, inspections, engineers, underwriting, turn times, rural development, scheduling, closing, referrals… and the list keeps running.


By educating our borrowers we eliminate devastating surprises.  Don’t be fooled, you need an expert and expert you will find here at CREFCO : )  If you are not carful you can really mess this thing up!!  Put a hold on additional credit purchases, job changes, co-signing for others, and even inquiries on your credit for little thing like switching utilities as these can all affect your loan approval.  You are important to us and so we take the time you need and deserve.


Call today and let the fun begin : )

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Shopping for a home stressing you out? Confused on where to begin? Well look no further.

With CREFCO and their experiences staff you will have no worry in your home buying process.


Well where do I start you might ask….


That’s easy, all you need to do I apply online and one of CREFCO’ s licensed Loan Officer will be in contact you within 24hrs to review all the potential options that you have.


What is my credit is not good?


Not a problem!! Just because your credit is not perfect doesn’t mean you can get a usda loan. Your Loan Officer will explore all the options to get you where you need to be to get into your dream home.


Once approved you will be handled and educated with the utmost care from one of CREFCO’s Loan Auditors. You Loan Auditor will be by your side until you have the keys to your new home in the palm of your hand.


There is one thing about purchasing a home that affects everyone, anxiety. You can rest assured that CREFCO will make you their priority number one. You can just kiss that anxiety goodbye and welcome in the happy and exciting memories of purchasing a home.


Trust me; you would be losing out on an experience of a life time if you don’t select CREFCO for all your home financing needs.

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Rural Development loans

When you hear 100% financing, no money down as an option for a loan most people say, “no way, not possible, what’s the catch?” Many people, including lenders do not even know this loan program exists.


What is the name of this loan and how does it work? It goes by a few different names: USDA Rural Development Home Loan, USDA Home Loans, RD Government loans.  No matter what you call them, there is no catch as far as the 100% financing. The main qualifying requirement for the loan is the property needs to be in a designated rural eligible area that USDA has established.


The loan itself is great, especially for first time home buyers who may not have a lot of money set aside for down payment. The rates are always great and the monthly guarantee fee is significantly less than the mortgage insurance on other programs.


The basic breakdown of how the loan works and why the option of offering the 100% financing is possible is the loan has an upfront funding fee of 2% that is automatically built into the loan amount itself; this money is not required out of pocket. The funds from this 2% funding fee are sent directly to USDA dpt, it works as their upfront insurance and allows the borrower to not have the burden of out of pocket down payment expenses.


USDA loans also allow for the seller to cover all closing costs, up to 6%, so once again no money required out of pocket. This now leaves the only out of pocket expense for the borrower the cost of the appraisal and any earnest money needed to hold the property through the underwriting (escrow) process.


For those who are able to qualify for this loan it definitely is the most cost effective program being offered today.

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Low Down Payments

If you’re looking for an affordable mortgage that’s actually obtainable don’t overlook a USDA Rural Development Loan. They’re one of the few ways you can still get a zero down payment home loan, outside of the VA program for our military veterans. To go along with no down payment, USDA Loans also carry interest rates comparable to conventional mortgages. There’s no private mortgage insurance required, although you do have to pay an annual fee equal to 0.3% of the loan balance. This is quite a bit less than you’d have to pay for PMI on a conventional loan with less than 20% down. By comparison, FHA requires a 3.5% down payment and its annual fee is 1.10-1.15% on 30 year loans. As the name implies USDA Rural Development Mortgages are limited to home purchases in rural areas. However, the definition of rural is fairly broad- it includes small towns and the outlying areas of many small-to-midsized cities, so you don’t have to live in the sticks to qualify. USDA loans are also limited to people with low and moderate incomes, but those limits vary depending on where you live. The general rule is the household income cannot exceed 115% of the median income for your area, other things can factor in and raise that limit such as kids under 18. There isn’t a specific limit on the amount you can barrow. However, typically speaking you can get approved for three times your annual income before taxes. Does all of this sound good to you? Let’s get you on the phone with one of our USDA specialist and pre-approved today! J

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