Home Buying in Waveland>Question Details

rking1971, Home Buyer in Crawfordsville, IN

When approved for a USDA loan, how do you know which homes qualify? I've read the basic criteria off of the website stating the "requirements" but

Asked by rking1971, Crawfordsville, IN Sun Jun 30, 2013

every time I call about a property I like there's some reason it doesn't qualify. What should I be looking for?

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Answers

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First you start by confirming the property location itself qualifies. This can be done through a Realtor, Lender, or checking the USDA website. The next step is to see if the house qualifies based on the shape that it is in. USDA requires that homes be pretty much perfect in order to qualify. They want to make sure there are no maintenance issues that would go unattended to and lead to bigger problems if they end up with the property through foreclosure.
0 votes Thank Flag Link Tue Feb 4, 2014
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