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Rural Development Loans

Rural Development 100% Financing “Rural Development lending has become a very popular loan product in the past 5 years. Rural Development, or ‘RD’ lending extends financing to homebuyers for 0% down! 

You do not have to be a ‘first time homebuyer’ in order to obtain a RD loan; but, you cannot currently own another home & be eligible to purchase another one with RD financing! The seller is allowed to pay up to 6% towards ‘seller paid closing costs’ on behalf of the buyer. Buyers can only obtain a 30 year loan term on this type of product. Appraisals in Knox County for a RD loan are $425.00. Our current minimum credit score requirement for FHA is a 640. Rural Development loans for properties located in Knox County have to be eligible. There is a website that you will need to imput your property address and see if it is eligible for this type of financing. This is the link: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do Another RD caveat is household income. Knox County household income limits for RD are not to exceed $74,500.00 annually. Marissa & Margo are always willing to help you work on your credit, if it’s not up to the industry standard at the date of application.”


Peoples Home Equity
8351 East Walker Springs Lane
Suite 200
Knoxville, TN 37923
Phone: 865.936.9100
Fax: 877.235.3633
Email: info@marissaandmargo.com

Testimonials

If you are in need of a home loan or looking to buy a home your first step should be with Marissa French and Margo Krogulski at Peoples Home Equity. They are top notch and will work with you and help you get to where you can buy your dream home. These two ladies are a God send to me. I cherish both of them and if it hadn't been for them i would have never been able to get my place. So I thank both of them from the bottom of my heart. Stephen H.
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Marissa French NMLS # 184740 & Margo Krogulski NMLS # 184738

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Cardinal Financial Company, Limited Partnership (NMLS ID 66247).

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