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Posts Tagged ‘rural area’

USDA Loans Include HUD and MOD

January 31st, 2013 Comments off

TotalMortgage informs MHProNews if you live in a rural area and meet the income qualifications you may be eligible for a USDA Home Loan, with no down payment, 100% financing including closing costs, government guaranteed and competitive rates. Part of the US Dept. of Agriculture’s Rural Development Single Family Housing Loan Guarantee Program, income eligibility is capped at 115% of the area’s median income. All loans are 30-year fixed, and types of construction included modular homes and new manufactured homes. The article notes this program hit bottom two years ago when an audit uncovered over $4 billion in ineligible housing loans, but that situation has been cleaned up. In addition, approval may be granted in as little as 15-30 days.

(Image credit: mortgageorb)

Residents Want to Repeal Ordinance

August 2nd, 2012 Comments off

KTBS reports from Jefferson, Texas in the northeast corner of the state across the line from Shreveport, Louisiana an ordinance banning manufactured housing from the historic area of the city is being opposed by some residents. MHProNews has learned over 300 Jefferson citizens have signed a petition to present to the city council for repeal of the ordinance, saying they understand the importance of the historic area but the need for affordable housing outweighs history. Debra Jordan, who helped gather the signatures, says, “We are a rural area, we’re not a major city and we see no problem with bringing in manufactured housing in designated areas such as this.”

(Photo credit: MHProNews)