I was under the impression that the USDA Rural Dev Loan was for anyone not just first time home buyers.
The guidesline for the Rural Dev. Loan state that you can not currently own adequate housing. I'm wondering if that refers to me since my husband owned the home before we were married. We've been married for 3 months and the house is currently on the market as a short sale.
HI Robin:
Here's a great link that will provide you with USDA home loan requirements:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Email me if you need a lender reference.
Best of luck,
Lisa Bender
Keller Williams Realty
LisaBender@kw.com
http://www.ClickThisHome.com
810-534-2058
Robin,
This is both a great loan program, and a great question. I just closed on a USDA Rural Development loan from a blogger like yourself on this website, on a property in Pinckney. Livingston County is a fantastic county for this program, as well.
I believe that one can not own a home to secure this type of loan, but you ask a great question. I will look into this further for you, and speak with my USDA contact. Feel free to email me at Derek@DoorToDreams.com and I will respond with the answer, from the horse's mouth, so-to-speak...
Derek Bauer, Associate Broker / Realtor
Real Estate One
Derek@DoorToDreams.com
http://www.DoorToDreams.com
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