UPDATE – Improved Qualifying for USDA Overtime Income, Bonuses, and Commissions
Front Page | USDA Loans | Posted on March 20, 2020 at 4:57 pm by Sean Stephens
In order to maximize your USDA sales price, calculating all available income is critical! However, because everyone is not paid the same, it is also important to understand the most recent and updated qualifying guidelines used for calculating USDA overtime
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Can you finance the vacant lot next door with the same USDA loan?
Front Page | USDA Loans | Posted on March 13, 2020 at 1:31 pm by Sean Stephens
In rural areas, what can be done when a seller wants to include their adjoining vacant lot as part of the same sale? Thankfully, USDA loans can be flexible when trying to include an adjoining parcel. However, it’s important to
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How much USDA land can be purchased with a USDA home loan?
Front Page | USDA Loans | Posted on March 6, 2020 at 4:48 pm by Sean Stephens
USDA loans are sought after by homebuyers since they allow for no down payment and offer financing flexibility. Additionally, USDA guidelines have recently improved in regards to how much acreage can be purchased with a USDA home loan. While it is true that
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How can a USDA Debt to Income Ratio Increase your Sales Price?
Front Page | USDA Loans | Posted on March 4, 2020 at 6:20 pm by Sean Stephens
How much money you can borrow from the USDA is determined by your USDA debt to income ratio. This calculation shows what percentage of your income is going towards paying your monthly debts. Thus, a higher debt to income ratio
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What are USDA qualifications for those with little or no credit history?
Front Page | USDA Loans | Posted on February 28, 2020 at 2:55 pm by Sean Stephens
It is possible to qualify for a USDA loan with little or no credit history? When a homebuyer does not have an established credit history, USDA qualifications allow the ability to utilize non-traditional credit accounts. In today’s video, I’ll discuss
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USDA Property Eligibility: These property types are NOT eligible for a USDA loan
Front Page | USDA Loans | Posted on February 14, 2020 at 3:27 pm by Sean Stephens
USDA property eligibility is a must know, but many times it’s easier to know what causes a property to be ineligible. In today’s video I will explain what property types are NOT eligible for a USDA loan and help keep
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USDA and VA loans are No Down Payment mortgage options with BIG differences!
USDA Loans | VA Loans | Posted on February 7, 2020 at 2:42 pm by Sean Stephens
As a USDA and VA approved lender, one of the most common questions I receive is, “What are the differences between USDA and VA loan?”. Both USDA and VA loans are great no down payment mortgage options. However, it’s vital that
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Is an Earnest Money Deposit Required With a USDA No Down Payment Loan?
USDA Loans | Posted on January 31, 2020 at 4:22 pm by Sean Stephens
Typically, when purchasing a home, a buyer will have two types of out-of-pocket expenses: down payment and settlement charges. With a USDA no down payment loan, the burden of a down payment is eliminated. However, remember that no down payment
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Well and Septic Required Distances for USDA and FHA Loans
FHA Loans | USDA Loans | Posted on January 17, 2020 at 9:38 pm by Sean Stephens
What are the required distances for well and septic on USDA and FHA loans? Understanding USDA and FHA loan distance requirements between a well and septic are critical when determining eligibility and because it can be common for rural properties to
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How Can You Combine Florida SHIP Funds with a USDA loan?
Front Page | USDA Loans | Posted on January 3, 2020 at 2:06 pm by Sean Stephens
Can Florida SHIP Funds be combined with a USDA loan? The goal of Florida SHIP funds is to provide affordable homeownership for first-time homebuyers with very low, low, and moderate-income. They can be used for a variety of purposes, including
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