Loan Application (152KB)
form can be completed on-screen, printed, signed and delivered
This is a legal-size document.
security issues regarding this document, see below.*
Rural Development; Guaranteed Rural Housing
is a Guaranteed Loan?
Rural Development has partnered with your local lenders to help
them extend 100% Financing opportunities to rural individuals and
families. The federal government agrees to "guarantee"
the bank's loan to you, thereby lessening their risk when making
mortgage loans. The end result is more buyers "Achieve the
Dream" of homeownership with more affordable and attractive
terms with the assistance of Rural Development.
- Have an adequate
and dependable income
- Be a US Citizen,
or Permanent Resident
- Have an Adjusted
Annual Income that does not exceed the limit for the county in
which you are purchasing
- Have a credit
history that indicates a reasonable willingness to meet obligations
and repay your debts
- Qualify within
the flexible guidelines offered by Rural Development for housing
and debt loads
- Doesn't already
own adequate housing (unless home isn't within a commutable distance
- Live in
a USDA approved area
may work with an approved lender of their choice to gain approval
for Guaranteed financing.
Guaranteed Financing is NOT JUST FOR FIRST TIME HOMEBUYERS!
are the loan terms?
- Loan Amount
can be up to 100% of the APPRAISED or "As Improved"
value, plus the guarantee fee
- Loan funds
may be used to purchase and repair a home, and may include closing
- Only 30 Year
Fixed Rate Loans
- No monthly
Mortgage Insurance (A one-time guarantee fee may be rolled into
make application with an approved lender of their choice
- NO MAXIMUM
PURCHASE PRICE! Borrowers may buy the home that meets their needs.
type of Homes Qualify?
Loans may be made on EXISTING homes that:
- Are structurally
sound, functionally adequate, and in good repair.
- Meet USDA
Thermal Standards to ensure adequate insulation for efficient
heating and cooling costs
- Are certified
by a State Licensed Home Inspector or Appraiser for plumbing,
heating, water, waste disposal, and electric systems: All in proper
- Provide a
New Termite Inspection
Development works hard to help you ensure that your home will be
in move-in condition. Major home repairs can be devastating to a
budget. By having the inspections completed you can be confident
your home is in good condition.
can I get more information to see if I qualify?
your local Rural Development Office or log on at www.rurdev.usda.gov
- Find "GRH
- Click on
Income Limits and Rural Area Maps Online
- Click on
"Income Eligibility/Single Family"
- Answer each
question, don't forget to enter your GROSS MONTHLY income when
requested. Each question will help drill down your gross income
to assist you in qualifying for Guaranteed financing.
- At the end
you will receive a preliminary "Eligible/Ineligible"
statement. Please contact your local Rural Development office
to clarify your results.
Kocher at TrustBank to begin the Loan Application
After filling out this form, do not leave an unattended browser
signed onto your account.
are not aware that once a browser is signed onto an account, the
browser remains signed onto the account until you leave the program.
Also remember that many browsers keep a copy of the pages you have
read in memory. This is why you can use the BACK button on your
browser to retrieve pages so quickly. The pages are not being read
from the server, but are being drawn from the copy kept in memory.
This is called web page caching. Some browsers go even further by
keeping copies of pages that you have already read on your hard
disk drive. If you have web page caching enabled, be sure you understand
where the web pages are being cached, and be sure you are aware
of who will have access to the computer you will use to access the
Electronic Banking System.
If you leave
your browser running after you have viewed Electronic Banking System
pages, you are inviting a potential thief to simply use the BACK
key to gain access to your account information. For best safety,
disable hard disk caching of web pages, and when you are finished
using the Electronic Banking System, exit your browser.