Home Selling in Boise>Question Details

Jean Prough…, Real Estate Pro in Pomona, KS

I need to know time limits for selling a home I purchased with a USDA home loan. I have only lived in the home for 1.5 years.

Asked by Jean Prough Herd, Pomona, KS Tue Feb 7, 2012

I want to sell and move out of neighborhood. A particular nieghbor is making my life miserable and I am prepared to sell, if my loan will allow.

Help the community by answering this question:


USDA loans do not have prepayment penalties, you can sell at anytime.
1 vote Thank Flag Link Sun Jan 25, 2015
Thanks to all who responded. I have since found out there is no early prepayment penalty.
1 vote Thank Flag Link Tue Feb 7, 2012
I also obtained a USDA loan and I only been in my home for four months and my neighbors and the HOA is doing the same thing to me. I called my real estate this morning trying to find out my options. I will post whatever information I find out about and good luck.
0 votes Thank Flag Link Fri Jul 13, 2012
I know you already got the answer you are looking for, however was curious if the home was here in Boise where you posted the question or if it is in GA where it indicates you are in your profile.

Your profile also indicates you are an agent, so you already know there is a huge difference in Realtor's even at the same brokerage/franchise so be sure to interview several that understand the process of selling but also how to utilize the USDA loan options to help attract buyers!

Best of luck from Boise!
0 votes Thank Flag Link Tue Feb 7, 2012
USDA loans do not have prepayment penalties, so you should be able to sell the home at any point. In that regard you can sell anytime. The other factors to consider are your current loan balance and the real market value of the home. Do you have equity in the home, or would it be a short sale right now.
0 votes Thank Flag Link Tue Feb 7, 2012
You would need to check your contract with your Lender, not USDA, to see if they have restrictions or a prepayment penalty.
Premarily, the USDA loans require Owner/Occupant.

One thing you should be cognizant of is the possibility that you will be Upside-Down on the value, having put no money down; you may have to put some money out of your pocket.

You should contact a Realtor and have them do a CMA to check Market Value.

Good luck and may God bless
0 votes Thank Flag Link Tue Feb 7, 2012

USDA by itself doesn't have restrictions on the timeframe lapsed to sell the home. If it was used in tandem with a state issued bond program there could be restrictions. I'm assuming that's not the case due to USDA typically used as a 0% down option. Hope this helps.
Web Reference: http://www.envoyboise.com
0 votes Thank Flag Link Tue Feb 7, 2012
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