Loans make purchasing rural property easier

Rural living is popular for many families looking to raise their children outside the hustle and bustle of city life. If you've imagined your children running unhindered through acres of backyard, or developing a baseball game in the field with your nearest neighbors, you're probably looking into living in a more rural area.

In addition to the space your children have to grow, also consider how much more energy efficient your family can be, growing your own fruits and vegetables, chopping wood for a wood burning stove and even composting some of your garbage to benefit the next year's garden.

Purchasing property outside the city limits can be a challenge, especially with today's real estate market and loan approval difficulties. But the USDA Loan program was designed to help develop the nation's smaller, rural communities, and loans are available for purchasing property outside of city limits in communities with populations of fewer than 20,000 people. Visit www.usdaloanagency.com/propertysearch to see if a property you're interested in purchasing qualifies.

You probably get suspicious when you hear the terms, "no down payment loans," but for these government-backed USDA loans, it's a benefit.

Having good credit is a factor for getting approval on home loans, but unlike many mortgages, with a USDA Loan, you don't need to have money down. For these home mortgages, credit history will be evaluated. And if you've been working on improving your history, and are able to meet monthly financial obligations, you've have a good chance of qualifying for this type of loan.

Because property prices and taxes often are lower in rural areas, with a USDA loan, families might be able to afford larger parcels of land. Loan rates are fixed, meaning families who finance up to 100 percent of the home will have the same monthly payment. And you don't have to be a first-time homeowner to qualify.

If you've been yearning for a life of fewer distractions, less noise and a deep breath of clean, fresh air where your children can run and play in the backyard, investigate if a USDA loan can help you afford a place to live in the wide open spaces of America's rural landscape.