Home Buying in Leander>Question Details

Amanda, Home Buyer in

USDA redistricting (Proper word for it?) in March, How can I tell if it will effect me?

Asked by Amanda, Mon Dec 10, 2012

I have been talking to Centex Home Builders about possibly getting a house built for me in Leander TX. If I were to have it built, it will not be finished until May/June. Is there a possibility this location will not be within USDA eligible areas after the redrawing? (Leander TX 78641) If it is no longer within USDA lines, how much would this effect me? I would then have to go FHA routes instead?

The plan was to go the USDA route, but I'm a little cautious about the redrawing and how much of an effect it would have on me. Scared to OK the home building. I guess I'm just not as clear in general.

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I have been concerned about the same thing in this very area. I haven't been able to find any information about the redistricting/zoning. Are you able to proivde any links to news regarding this possiblity?
0 votes Thank Flag Link Mon Jan 21, 2013
Hello Amanda,

It's hard to say for sure. I would need to know the exact location of where you were looking to build and I could check with USDA for sure. If you cannot go the USDA route FHA would probably be your best bet as it would allow for as little as 3.5% down. Not as good as USDA I know but still pretty good. There are other conventional options that would allow for 5% down which could have lower monthly insurance rates depending on your credit.

I am a Realtor and mortgage broker who lives nearby in Cedar Park so if you would like to discuss this further please feel free to call or email me and I can look into this for you in more detail so you can understand all of your options.

Best of luck to you,

_______________________________________
Don Groff
REALTOR® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com
0 votes Thank Flag Link Mon Dec 10, 2012
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