Home Buying in El Paso>Question Details

Az, Home Buyer in Horizon City, TX

Why is it that when I tried getting info on usda program for vista serena homes in horizon city they hesitate to give any info?

Asked by Az, Horizon City, TX Sat Mar 9, 2013

We plan on applying just not yet we have debt we are trying to pay down first

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Builder’s opinion: in our area of the country USDA loans are available for new construction but the USDA requirements in our area of the county are different than what is typically constructed. For example USDA in our area requires 2 x 6 construction this is not typical as most homes in our area are framed with 2 x 4’s. USDA requires all basements to be insulated regardless of if it’s above grade or below grade. All these items add to the cost of the home but not to the value of the home in the eyes of the almighty appraisers. Hence the home may not appraise with these added items therefore the UDSA “DEAL” is pie in the sky. Your area may be different but these are reasons which make builders shy away from this product in my market.
0 votes Thank Flag Link Thu Mar 21, 2013
Find a new loan officer, try a local and truste dloan officer hwo can easily guide you through USDA
0 votes Thank Flag Link Sun Mar 10, 2013
That is strange. USDA loans are fairly simple to originate for borrowers and properties that qualify for the financing. Make sure the property is in a USDA approved location and make sure you are not over the income guidelines. I recommend speaking with another lender if you are having problems with the one you are currently talking with because USDA is a great program that offers people a fantastic opportunity to get into a house with little and sometimes even zero out of pocket expenses.

If you have any questions on the program or qualifications please give me a call. I am a mortgage broker and work with over 15 lenders that offer USDA.

Hope this helps.

Don Groff
REALTOR® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
listings@dongroff.com | http://www.AustinListed.com | http://www.360LendingGroup.com
0 votes Thank Flag Link Sun Mar 10, 2013
I am working with USDA in a "short sale" case and they have been very supportive. If you think I can be of some help, please give me a call or send me an email describing the information or advise you need from them. I will be more than happy to assist you.

Oscar Nieto, Realtor
(915) 355-9305
0 votes Thank Flag Link Sat Mar 9, 2013
Plain and simple. The Builder's lender doesn't offer the USDA RDL financing. I am a lender who does loans for Builders when their Lender can't offer a particular product to a borrower. If you are interested in a USDA RDL please contact me and I will give you the scoop. Now to address what Mr. Rojas stated below. His comment is factually incorrect. I wish some Realtors would leave lending answers to the lending professionals. I find that often time some people on this site give out answers that are completely false.
Fact: The USDA RDL will be updating it's eligibility map in March 27 this year, and there will certainly be SOME areas that will no longer be eligible due to demographic changes from the past U.S. Census of 2010 but NO ONE knows what those areas are yet, not even most of the staff at the USDA. So I can assure the USDA RDL Program is not going anywhere. Please click in the link below for further information or you can contact me and I would happy to assist with any questions you may have.

Best of Luck!

0 votes Thank Flag Link Sat Mar 9, 2013
They shouldn't if its a lender it could be that they don't have USDA. I also recall USDA is disappearing. Send me an email and I can find out for you? Chrisrojas@sellersbuyers.com
0 votes Thank Flag Link Sat Mar 9, 2013
Who are you contacting? The builder, the listing agent, or USDA?? If you are thinking about buying, you need to find a REALTOR to work for you as a Buyer's Agent. He/she can look into the homes that you're interested in, and assist you in finding a lender who handles USDA programs.
0 votes Thank Flag Link Sat Mar 9, 2013
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