Home Buying in Lake Geneva>Question Details

Carol Shier, Home Buyer in Dallas, TX

How many realtors have worked with the USDA Rural Development people and totally understand the qualifications needed to get a loan through them?

Asked by Carol Shier, Dallas, TX Sun Apr 27, 2014

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Carol it's not up to the Realtor, it's up to the lender. Most Realtors know little about loans. As a formerly licensed lender, the rules and programs changed so much I had a hard time keeping up with them and being a full time agent.
Now I've attached a link to the USDA site where you can check out the rules and regs and see if you qualify. There are location limitations, rural properties as they define them, and income limitations, based on some regional norms. Both you and the property must fit their guidelines to get approved.
As you read over the site you'll have questions. A great local lender who has experience with these loans will be able to answer them and explain the program to you more fully.
0 votes Thank Flag Link Sun Apr 27, 2014
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