For the past few weeks, Kickin' Country has been broadcasting live from Plains Commerce Bank with Mortgage Mondays. It's a big deal when you can literally save hundreds of dollars per month, by either refinancing your home or just cashing in on what are still historic low interest rates.

If you have never owned your one home, check with your parents.  They'll tell you stories of double digit interest rates for sure.

One of the loan specialists at Plains Commerce Bank, Joshoua Osborne actually helped my wife and I with our home loan.  I asked him specifically about RFD loans, because I thought our listeners in Rural Kickin' Country should know about them. Josh was kind enough to send me this information.

The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural homebuyers achieve their dream of homeownership!

Income Limit for family size 1-4 in Lincoln County or Minnehaha county is $79,500

Income Limit for family size 5+ in Lincoln County or Minnehaha county is $104,500

Rural Development partners with approved local lenders like Plains Commerce Bank to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. Guaranteed loans have assisted thousands of homeowners to purchase a home with affordable interest rates and loan terms.

Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Additional Guaranteed Loan Features include but are not limited to:

  • 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.
  • Guarantee Fee applies: may be rolled into the loan amount.
  • Flexible credit guidelines. Non-traditional credit histories may be accepted.
  • Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
  • No maximum purchase price. Qualifying ratios and the applicant’s stable and dependable income will determine home affordability.
  • Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
  • Gift/Grant Funds/Mortgage Credit Certificates (MCC’s)/Seller Concessions are allowed.
  • Not limited to first time home buyers.

Contact Josh Osborne today to learn more about Rural Development and buy a house with 100% Financing.