Grow Your Purchase Money Business in the Rural Market
June 12, 2014
Expanding your purchase money business can be challenging in today's market. As you look for ways to reach customers, one strategy worth considering is seeking opportunities in rural housing, a traditionally underserved sector of the market.
Nearly 20 percent of the U.S. population lives in rural America, and buyers in these areas are looking for more options for quality, affordable mortgage financing.
However, appraising and underwriting a property in a rural location can pose challenges not commonly seen with suburban or urban properties. To support your efforts to reach rural communities, we've recently clarified our rules and provided guidance on appraisal and property eligibility requirements for rural properties.
For more information:
- Read our "Clarifying Misconceptions on Freddie Mac Requirements for Rural Properties" flyer.
- Register for our "Reviewing Residential Properties" webinar that features information about rural housing.
- Review Single-Family Seller/Servicer Guide Bulletin 2014-5 on rural housing.
For more ideas and helpful tools for growing your purchase money business, visit our Purchase Market Resource Center. You'll find valuable information and resources to get more customers in the door including customizable educational materials, training resources, and business-to-business tools.