I am looking for an experienced broker that specializes in USDA Home loans in the metrowest area of Massachusetts?

Asked by lindemandelgado, Ashland, MA Wed Nov 20, 2013

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Jim Driscoll, , Lynnfield, MA
Tue Mar 11, 2014
Hi Lindemandelgado:

We have several years of experience handling USDA/Rural Development financing. Check out this video testimonial from one of our USDA clients: http://youtu.be/kRkBMQx5y3s

Have you looked at the USDA eligibility map to see if the area you're looking to purchase is eligible for USDA financing? Call me at 617-529-9007 to discuss further. I look forward to hearing from you.

To see more testimonials, visit: http://www.driscollmortgageteam.com/video-testimonials-2
0 votes
Nancy Butter…, Agent, Ashland, MA
Tue Mar 11, 2014
Hi Lindemandelgado:

Since you posted this back in November you may well be on your way to home ownership,
but I did want to let you know that I can highly recommend Bethany Levin at NorthPoint
Mortgage to help you with a USDA loan. I am just in the final stages working with a client
now who is purchasing a USDA home. The USDA loan requires the home to be an approved
property. They are usually found in rural areas....check first to see if the address of the home
your interested is approved on their website. Go to the website USDA.com and enter the
address. If it shows it is approved then contact Bethany. She will want to know your income,
do a credit check etc. There are requirements as mentioned in earlier
postings, but Bethany will be able to help you all the way - if you need a Realtor to help
you with the purchasing and negotiations don't hesitate to contact me at nancy.butterly@ziprealty.com.
Good luck!
0 votes
Jim Driscoll, , Lynnfield, MA
Wed Nov 20, 2013

The process all starts with first identifying where you are looking to purchase a home and whether or not your income meets the USDA income eligibility requirements. Once those two items have been addressed, the process is quite simple. Unlike Conventional and FHA loans, lenders do not have the final say on USDA loans. Once a lender has completed the Underwriting on a file and has ensured all items have been met, the file is forwarded to a local USDA office for issuance of a Conditional Commitment. We just had one sent in for final review a few days back and they are currently running about 5-7 business days for review.

Couple of things to keep in mind:

1. For income eligibility, all income from the household will be used, not just the borrower on the loan.
2. Water test is needed. This takes about 5 business days from the time the water sample is taken to complete.
3. Septic test is NOT needed so long as an FHA approved appraiser goes out to conduct the inspection.

If you would like to have a detailed conversation regarding this product and whether or not you are eligible, please call Jim Driscoll at 617-529-9007 (jim@driscollmortgageteam.com) or Sam Patel at 201-421-9462 (sam@driscollmortgageteam.com). We work with several Real Estate agents in USDA eligible areas, including Metrowest.
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Heath Coker, Agent, Falmouth, MA
Wed Nov 20, 2013
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell
I believe he knows the USDA loan program pretty well.

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