Archive for 'USDA Loans'

A question I am commonly asked is, if I have previously had a bankruptcy can I still qualify for a USDA loan? USDA guidelines state that you need to be 36 months discharged from a chapter 7 bankruptcy. If you have a chapter 13 bankruptcy you are eligible for financing while IN your bankruptcy if you have at least 12 months of on time payments, have the bankruptcy trustee’s permission and your overall credit is acceptable ...

If you are reading this article you are likely getting ready to purchase your first home. You will not find a beter loan than a USDA loan!  I want to talk about the key players involved in your home purchase and your home loan. The main parties (other than you as a buyer, and the seller) are the Realtors, the Loan Officer, Appraiser, and the Title Company.

Realtors:

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A USDA loan is one of the few loans that will allow a homebuyer to finance their closing costs into their mortgage loan. There are two main ways to have your closing costs paid thru your loan closing. The first way would be to finance closing costs into your loan amount. In order to do this your home must be worth more than the purchase price of your house. The value of your home is determined by the appraised value ...