Home Buying in Georgetown>Question Details

Amcdonald, Home Buyer in Georgetown, DE

what are the property requirements that USDA allows in Delaware?

Asked by Amcdonald, Georgetown, DE Sat Oct 23, 2010

i was approved by USDA in the state of DE and am shopping around for a place but i dont know if it meets the requirements USDA has. I need to find out what they approve and what they dont someone said NO mobile homes but what if they were class C??? said it must have a black top driveway soooo i have no idea what i should be shopping for

Help the community by answering this question:


I was recently told that USDA loans were closed to Class C homes. Is this true?
0 votes Thank Flag Link Sun Oct 28, 2012
I apologize for the misspelling of a couple of words. Typing too fast.
0 votes Thank Flag Link Mon Oct 25, 2010
The approval you received will depend on which USDA loan program you were approved for. There are 3 didfferent USDA loans. 1st loan is the guaranteed loan program, 2nd loan is directly through the USDA office which differs from the guananteed loan program in how they structure the income guidelines and the 3rd USDA loan is for persons that make lower than the median income for the area you are in and that loan is also available from theUSDA office directly. The guaranteed loan program is offered by Banks, Mortgage Loan Brokers, Wholesale Lenders and through a host of other lender sources. The subject property cannot have a swimming pool, it must meet certain building codes, i. e., electrical, insulation and storm exterior doors. The home inspection will point out areas of concern if there are any. The loan programs are one of the best out here but the funding is not available for all programs until congress resumes in November and there are changes to the guidelines that will also be announced in November. Please talk to the entity that issued you your approval as they are the ones that should have already explained all this information to you so you would not have to be asking outside of the approval. I am a Mortgage Broker and have been doing these loans for over 20 years and when I work with a client on this loan program they know with a pre-approval that I issue exactly what there is to know about the loan and the process and what type of property to seek.
0 votes Thank Flag Link Mon Oct 25, 2010
Please review some of the key points of the USDA Home Loan Program in Deleware:
Hi Amcdonald, this information is directly from the site for USDA in Delaware. Be sure you are working with a lender that does USDA as they will have the answers you are seeking. If you are going thru USDA directly, USDA will also have that info. I do have a pamphlet I can send or email you if you like that may be helpful or lenders who can answer your questions further. I can tell you this is an awesome program and all Sussex County qualifies! If you have questions or want me to send that pamphlet to you just let me know. Good luck.
Sellers can pay closing cost
Closing cost can be financed into the loan (loan cannot exceed the appraised value)
No mobile homes
No major "fixxer-upper" type homes
Typically, a 620 credit score is all that is needed to qualify
Past, discharged bankruptcy can be accepted
0 votes Thank Flag Link Sat Oct 23, 2010
Can you email me a phamphlet? I need to know where the homes are located. I have already been approved.
Flag Sat Nov 14, 2015
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