where do you apply for a usda guaranteed home loan?
I am interested in applying for a usda home loan, however, I am unclear on where you apply?
- Beverly SLv 71 decade agoFavorite Answer
These loans are also called RD loans- (rural development)- you must have a 620 credit score but they will finance 100% plus the RD fee of 2%. Property must be in a rural location. Call any lender- ask if they do RD loans- you apply through an RD lender. Good luck!
I see where someone said up to a year to process! No way- 30 to 60 days- not sure what lender she has been using but that is ridiculous!
Lastly- do not call one of these people here on your answers- call a lender who does not use YA to get business. A legitimate lender would NEVER do this!Source(s): 23 years mortgage business - FHA/VA conventional & RD.
- vignolaLv 43 years ago
For the USDA GRH (guaranteed Rural Housing), at time of remaining, you won't be able to personal different "sufficient housing". commonly this suggests in case you personal a usual homestead you could't be eligible for the GRH loan. you could personal an unattached cellular homestead. also if there's a strong reason your cutting-edge homestead is "inadequate" you'll nicely be in a position to keep it. as an celebration, you personal a 2 mattress/a million bath homestead, you've 2 youngsters and also you're having twins!
- godgedLv 71 decade ago
Contact local brokers and find one that handles USDA loans. There are a LOAD of restrictions and requirements that come with this loan, and it can take up to a year to process. Most sellers will not accept this because of the time frame.Source(s): Oregon Realtor
- Anonymous1 decade ago
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- sdh0407Lv 51 decade ago
you mean the United States Department of Agriculture?
- gabbyLv 51 decade ago
get in touch with a realtor (if you're in TX. call me) they should know the lenders that have that program