USDA Mortgage Hub
100% USDA Rural Housing Loans
Serving all 50 states
Ph: 800-691-8826 (7 days a week)
Here are some of the requirements:
Purchase of existing dwellings
-The greater of the market value or purchase price cannot exceed the Rural Development loan limit for the respective area.
-In ground swimming pools are not eligible
-Structures such as barns and outbuildings designed for income production are not eligible
-Must be structurally sound, functionally adequate for the family and in good repair or be repaired with loan funds. Certification from a disinterested third party inspector such as a home inspection service or qualified tradesmen is required for:
-Structural soundness, electrical, heating, plumbing and roof cover
-Certification that the home is free of termites or other wood damaging pests
-Property located in a 100 year flood hazard zone may not be eligible for financing.
-A loan may be made on an existing condominium in a project approved by HUD, Fannie Mae or Freddie Mac. Evidence of approval could be documented sales financed by these entities in the project. Condominium documents and association bylaws must be approved by Rural Development's counsel prior to approval.
And you can find a complete listing at their site as well as further details on the USDA process and eligibility.
If there is anything else I can do to help - please let me know.
Thanks and have a great day!
Coldwell Banker HPW