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The area in IL where I work utilizes the Rural Development program on a lot of home laons. According to the lenders I work with the money is readily available. It is my understanding that it is a national program, so it should be available in your area as well. There are different programs available from Rural Development though. Is this a subsidized interest program, direct from Rural Housing or is there a participating lender? It could make a difference. Contact your local lender for a pre-approval to make sure.
Tue Mar 24 2009, 19:12