New Melle, MO - In a groundbreaking moment for the real estate industry, Blondin Real Estate has achieved a major milestone by closing Missouri’s very first USDA Rural Development Single Family Housing Guaranteed Loan on a manufactured home. This momentous event marks the beginning of new opportunities for prospective homeowners in rural areas and brings a fresh wave of excitement to the local housing market!
With Hope Fick serving as the listing agent and Sarah Wyatt representing the buyer, the transaction culminated in a successful closing for the first USDA-backed manufactured home loan in the state. The buyer was able to purchase a home on four acres for $187,000—and the best part? The entire cost was covered within the loan, except for a minimal earnest money deposit of $500. Happy buyer, happy seller, making it a win-win situation.
This was made possible through the USDA Rural Development Single Family Housing Guaranteed Loan Program, which recently expanded to include preexisting manufactured homes with zero down payment. The loan covers all expenses, including many closing costs, providing a tremendous opportunity for those who might otherwise be unable to buy their own homes due to limited financial resources.
What the USDA Loan Program Offers
For years, USDA Rural Development has been a trusted resource for homebuyers in rural areas, helping individuals and families purchase homes with favorable financing terms. All areas of Warren, Lincoln and Montgomery County are covered. The program traditionally supported single-family homes, but with recent updates, it now includes manufactured homes—a game-changer for many first-time buyers and those seeking affordable housing options.
Some key features of the USDA loan include:
• 100% Financing: The entire cost of the home can be financed, requiring no down payment.
• Lower Interest Rates: USDA loans typically offer interest rates that are 0.5% to 0.75% lower than conventional or FHA loans, making them more affordable in the long term.
• Area Eligibility: The home must be located in a rural or suburban area, ensuring that the program benefits families in communities that need it most. The program provides a map for easy information.
• Closing Costs: Many closing costs can be rolled into the loan, further easing the financial burden for buyers.
Blondin is equipping our agents with the skills and knowledge necessary for this new opportunity in Rural Housing. We are happy to connect the best lenders to buyers who want to learn more about home buying and how to get on the homeownership ladder. Local home sellers will benefit from a larger buyer pool and the knowledge we provide to make ANY sale a success. Blondin Professional Real Estate is pleased to be the first brokerage to guide clients through this process. Homeownership is the backbone of American financial strength, and we are here for it!
