3 USDA Financing Facts Every Seller Should Know
Sellers can sometimes be hesitant to accept USDA financing for their property, but this is often due to common misconceptions about the USDA program. With that being said, today’s video focuses on 3 important USDA Financing facts that every seller and Realtor should know.
Plus, for more vital USDA facts please download our FREE guide, USDA Blueprint for Success. It’s a great tool for sellers, realtors, and home buyers alike!
USDA Financing Facts
1. USDA loans do NOT have a maximum sales price.
While many may automatically assume that higher sale prices do not qualify for a USDA loan, this is simply not true, because the maximum USDA loan amount is based on the buyer’s qualifying ability, not a set loan limit like FHA or Conventional.
2. There are NO loan related costs that a seller must pay on a USDA loan.
While these types of charges are often referred to as “non-allowable” costs, remember that there are no required costs that a seller must pay on a USDA loan. The only costs that a seller must pay are for those agreed upon within the sales contract.
3. USDA loans ALLOW for in-ground swimming pools!
Even though many have bad memories from previous restrictions, USDA guidelines under the Single-Family Housing Guaranteed Loan Program permit in-ground swimming pool properties.
Facts vs Myths
As you can see, these USDA financing facts eliminate common myths about the USDA program and allow for a seller to feel comfortable when accepting a buyer’s offer who is qualified for a USDA loan.
Thus, as an approved USDA lender, we understand the USDA program and how to maximize its qualifying flexibility.
Simply call or email to discuss your scenario and let us show you the “Metroplex” difference!
(800) 806-9836 Ext. 280
Plus, download our FREE USDA guide, and it will walk you through the USDA process step by step.
Make it a great day and I look forward to seeing you for the next tip of the week!