I just confirmed that the USDA will not be requiring the new 1004MC form for their appraisals. This in spite of the fact that Fannie and Freddie, FHA/HUD and the VA are requiring them. That effectively makes RD loans the only ones NOT requiring this additional info.

Coupled with the fact you can still order your own appraisals through local expert appraisers, not some national company, this makes the RD loan program mighty attractive! As if you didn't have enough reasons before to like the program- count these benefits on top of such attractive features like:

• 100% financing, that can include closing costs if the appraisal supports it
• Fixed rates similar to FHA/VA
• Make sense underwriting guidelines and liberal credit score standards
• no monthly private mortgage insurance and one of the least expensive up front

So if you are not using rural development loans by now, you have missed the boat!

Gerry Suarez, Jr.

Your FHA Loan Pro!