by Alex Penny RCB Bank Mortgage Rural Development Home Loan Advantage Get$Fit Tip: Know all your ﬁnancing options before you start home shopping. Do you feel like homeownership may be out of reach because you don't have a large down payment? Look into the U.S. Department of Agriculture Rural Development loan (RD), which provides up to 100 percent financing to qualified households in eligible areas. Fun fact: Rural America includes 72 percent of the nation’s land mass, according to the USDA Rural Development 2017 Performance Report. Advantages 100% f inancing RD loans may only require you to pay closing costs. The majority of other loan programs require borrowers to put at least 3 percent down. Lower Interest Rate Because RD loans are backed by the government, they typically have lower interest rates than most conventional loans. Keep in mind, interest rates vary daily and depend on a number of factors, such as loan amount, credit score and rate lock. Seller Concessions RD loans allow the seller to contribute up to 6 percent of your closing costs, which may cover your out of pocket needs entirely. Mortgage Insurance Reduction On most loans, mortgage insurance (PMI) is required if you pay less than a 20 percent down payment. PMI covers the loan in case of default and may require an upfront fee and/or is included in your monthly loan payment. With an RD loan you may be able to finance the upfront portion and receive a discounted rate on the monthly fee. Talk to a lender to explore your options, and to find out if you qualify for a rural development loan. RCB BANK 855-BANK-RCB | RCBbank.com Invest in yourself. RCBbank.com/GetFit Are you eligible? Homes must be purchased in an eligible rural area. Household income must meet certain guidelines. Income restrictions vary by county. Currently in OK & KS: 1-4-person family $82,700 or less Family of 5 or more $109,150 or less. rd.usda.gov Use the USDA Eligibility Checker to find out if your home area & income qualifies. Qualifications change periodically. Opinions expressed above are the personal opinions of Alex Penny and meant for generic illustration purposes only. For speciﬁc questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB, RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151. Alex Penny NMLS #1535836. Source: USDA, https://www.rd.usda.gov/ FINANCIALLY FIT RCB BANK Member FDIC

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by Alex Penny RCB Bank Mortgage

Rural Development Home Loan Advantage

Get$Fit Tip: Know all your financing options before you start home shopping.

Do you feel like homeownership may be out of reach because you don't have a large down payment?

Look into the U.S. Department of Agriculture Rural Development loan (RD), which provides up to 100 percent financing to qualified households in eligible areas.

Fun fact: Rural America includes 72 percent of the nation’s land mass, according to the USDA Rural Development 2017 Performance Report.

Advantages 100% financing

RD loans may only require you to pay closing costs. The majority of other loan programs require borrowers to put at least 3 percent down.

Lower Interest RateBecause RD loans are backed

by the government, they typically have lower interest rates than most conventional loans.

Keep in mind, interest rates vary daily and depend on a number of factors, such as loan amount, credit score and rate lock.

Seller Concessions RD loans allow the seller to

contribute up to 6 percent of your closing costs, which may cover your out of pocket needs entirely.

Mortgage Insurance Reduction

On most loans, mortgage insurance (PMI) is required if you pay less than a 20 percent down payment.

PMI covers the loan in case of default and may require an upfront fee and/or is included in your monthly loan payment. With an RD loan you may be able to finance the upfront portion and receive a discounted rate on the monthly fee.

Talk to a lender to explore your options, and to find out if you qualify for a rural development loan.

RCB BANK 855-BANK-RCB | RCBbank.com

Invest in yourself. RCBbank.com/GetFit

Are you eligible?Homes must be purchased in an eligible rural area.

Household income must meet certain guidelines. Income restrictions vary by county. Currently in OK & KS: 1-4-person family $82,700 or less Family of 5 or more $109,150 or less.

rd.usda.gov Use the USDA Eligibility Checker to find out if your home area & income qualifies. Qualifications change periodically.

Opinions expressed above are the personal opinions of Alex Penny and meant for generic illustration purposes only. For specific questions regarding your personal lending needs, please call RCB Bank at 855-BANK-RCB, RCB Bank is an Equal Housing Lender and member FDIC. RCB Bank NMLS #798151. Alex Penny NMLS #1535836. Source: USDA, https://www.rd.usda.gov/

FINANCIALLY FITRCB BANK Member FDIC