Do home buyers still use USDA Loans to purchase a house for sale in your area?
Yeah I know it's not the sexy loan. Yes some loans are sexy to home owners. You know the sexy loans-Conventional and FHA. Most home buyers use one of these two loan products when they purchase a house for sale. Seems to me like USDA gets treated like a step child. More like the one that didn't get asked to go to the Senior Prom with the Jimmy Garappolo looking Quarterback on the high school team(I am San Franscisco 49ers Fan by the way) or the Prom Queen Beyonce. Or as most people call her Queen Bey. Hope the Bee hive don't come after me on this one. And if you are the Oprah Winfrey's,Jeff Bezos's,Uncle Warren Buffett,Aliko Dangote and Bill Gates,you use that thing the uber wealthly always use to buy their MEGA MANSIONS call CA$H. Damn I envy those rich people. LOL. Just kidding of course.
But seriously as most of us real estate professionals do on a daily basis,we examine the real estate market statistics in our area-JUST LISTED,PENDING AND JUST SOLD. Well actually I was looking up an expired property that is like literally 3 blocks from someone else's house which was a referral from an out of town real estate agent that I just found out yesterday that the house has been listed by Another Real Estate Agent for the past three months NOW. -SMDH. I don't want to get off subject. There is a reason why I am heated.(That blog is coming-HOPEFULLY SOON). Now back to my story.
Now I noticed that the Real Estate Agent mentioned that this property is eligible for a USDA Loan. USDA Loan? Do home buyers still use a USDA Loan? Do home buyers even know that it even exists? Also when was the last time one of your home buyer clients purchased a house with a USDA Loan?
I can't remember when was the last time a home buyer client of mine used one. But I did have a listing in 2016 which was a referral from one of my favorite clients. This same client referred me to her daughter who I helped her sell her house in Bryans Road MD. The buyer used a USDA Loan to purchase my client's house. And this same client of mine also referred me to her best friend who ended up buying a house with me as her Real Estate Agent.(I really need to call her)
So "Do home buyers still use USDA Loans to purchase a house for sale?" I'd love to hear your responses on this topic especially from Loan Officers.