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Good morning Richard. Every opportunity to do a USDA loan is a smart way to go for any prospective home buyer.
Richard Woodward NMLS...
I just closed a sale Friday using a USDA loan. We had to check each address in the USDA system before looking at the homes then had to check the system often during the loan process for delays. They take a bit longer than the normal loan. At the end of the day my client purchased a $400,000 home with $2500 down. They are a little more work, but I walked away with a client for life.
Most of my clients know about VA and FHA, etc. USDA is less well known, probably because we don't have that many areas that qualify for it anymore. But I'm doing one right now for a client who was pleasantly surprised he could do 100% financing.
We have a lot of clients either looking for USDA, or have already purchased a home through USDA. It's a great program, but the homes in those areas are being scarfed up.
I'm an agent and regularly give people that welcome news.
It is true. There are new products that works great for a certain category of buyers (what is the current situation on PMI? that thing is not a good news).
This is very good information for prospective home buyers.
the usda loan will not work in maricopa county , you have to go so far out to get elegible that sometimes make it hard for clients , the other kind of loan is great; thanks Richard have a great memorial day
Hi Richard - some homebuyers may not know but I refer them to lenders who know the different programs and the right match for each buyer.
I have heard about USDA
And here comes 2005 again.