I looking into a steel-frame house (not-manufactured, think shop-house) and I am trying to finance through USDA. Will this work?

Asked by Wildcatjake, 66067 Thu Jun 2, 2011

I have gotten mixed responses from the two banks I have been discussing this with. Four months ago I was told i could do USDA on this house, but comparables would be a challenge. Now I have heard from the other bank it does not conform to their guidelines. Any experience with this? The property is located outside Ottawa, KS.

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Sarah Klamm, Agent, Wellsville, KS
Thu Jun 2, 2011
I don't know what banks you are talking to, but a lender who does a lot of USDA Rural Development loans will know the most about that program. Comparables are an issue with all loans and even harder with non traditional properties.

How much land is included and is it for farm purpose? A direct USDA loan might be the answer when there is an agricultural aspect.

I am local and would be happy to assist you with this.
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