Financing in 19607>Question Details

Aever1986, Home Buyer in Pottstown, PA

As long as home is for sale in a USDA approved area can a USDA loan be used to purchase?

Asked by Aever1986, Pottstown, PA Thu Jan 26, 2012

Can any home in a USDA approved area be eligible to be purchased with a USDA loan? For example, if on a home listing under finance is only says "Conventional, FHA, or VA", they do not accept a USDA loan?

0 votes Share Flag Financing in 19607

Help the community by answering this question:


I wouldn't necessarily worry about what's listed as acceptable under Financing, because that's manually input by the agent and often they don't check whether or not a property is eligible for the USDA mortgage product. You can check online as to a property's eligibility at this website:
and then of course make sure your lender is qualified to do the Rural Housing loans (because they can also check for you).

You can also have your agent check for you with the Listing Agent, to make sure that there isn't some type of ineligibility issue with the property that would make it impossible to obtain the USDA loan, but usually if there is, the Listing Agent should add those to the Agent Only Remarks section of the TREND listing, so that your real estate agent should already be able to tell you that.

And of course, the final eligibility issue would be personal - you need to make sure that you personally qualify for the USDA loan as regards income, etc.

If you need more help with any of this, don't hesitate to contact me. You can reach me via e-mail or my cell phone, which is 610-207-0172.
3 votes Thank Flag Link Thu Jan 26, 2012
no usda home loans have to have 3 considerations. The area, the income of the buyer, and must meet inspection requirements. for more information ask me direct or check out my site
Web Reference:
0 votes Thank Flag Link Mon Feb 20, 2012
Hi Aever 1986

As the others have said, USDA should be a possibility. However, new incentives and programs come to this "buyer's market" every day. It sure sounds like you are researching your choices and I always feel an informed consumer gets the best deal. We can sit down and go over your information as well as your goals and see what the newest programs are and GO SHOPPING for your new home.
My cell is 610-781-3988 or email
0 votes Thank Flag Link Mon Feb 20, 2012
You can use this website to determine elibibility. If the property qualifes you can get a USDA loan.

If you have any questions I'd be happy to help.

Visit me on Facebook: my blog: E. Bahnsen- Mortgage Professional
Mortgage Network, Inc.
14 E. Stratford Ave Ste 3C
Lansdowne, PA 19050
Cell: 610-457-7262
Office: 610 622-2212
Fax: 1-866-590-3806
E-mail: NMLS # 127719
0 votes Thank Flag Link Mon Jan 30, 2012
yes, USDA is also dependent upon the buyers income as well, and has to meet inspection criteria. FHA and usda information can be found on this website
Web Reference:
0 votes Thank Flag Link Fri Jan 27, 2012
Dear Homebuyer in Pottstown,
First you need to verify that the property address falls in the rural housing area by address.
Then you need to con-tact a rural housing lender to check if you qualify personally for this type of loan.
And, if the seller will allow this type of financing from a buyer. Rural housing loans require an inspection of the property similar to FHA loans. If the home is a typical fixer/upper and the seller doesn't want to invest any further money in the home to repair items that the inspector may require to bring it up to their standards, then it may not qualify for rural housing. Good luck!
Deb Bensinger
Century 21 Park Road
610-378-0471 or cell 484-269-0171
0 votes Thank Flag Link Thu Jan 26, 2012
Hello Aever,

Once you have checked (or had your lender check) that the property is eligible, you then need to make sure that you qualify for a USDA loan. Also give yourself a little extrra time for closing as USDA has reduced their staff and are taking their time to approve loans.

Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
NMLS ID 143960
0 votes Thank Flag Link Thu Jan 26, 2012
You're very welcome!

(And if your lender isn't qualified to do USDA loans, drop me a quick e-mail and I'll give you the names of a couple of great local lenders who are qualified to offer them.)

Best of luck with your purchase!
0 votes Thank Flag Link Thu Jan 26, 2012
Valerie- Thank you so much for your quick response!

We are eligible for this loan, we did check and meet the requirements on the website. Our real estate agent never mentioned this type of loan to us so I'm thinking maybe he isn't qualified to do them, we will be checking with him tomorrow.

0 votes Thank Flag Link Thu Jan 26, 2012
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