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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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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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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Do USDA Loans Require Verification of Rental History?
Front Page | USDA Loans | Posted on October 25, 2019 at 3:21 pm by Sean Stephens
Everyone’s USDA qualifying situation is different and rental history is one component of that. That’s why today we are focusing on when rental history is a requirement and when it is not. Remember to make sure you are working with
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Your credit score just dropped, how can you still qualify for a USDA Loan?
Front Page | USDA Loans | Posted on October 18, 2019 at 12:09 pm by Sean Stephens
Just because your credit score took a recent drop, doesn’t mean it’s the end of the road for a USDA mortgage. In fact, it’s possible to increase that credit score in less than a week! As you can imagine, this
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How Do You Qualify for a USDA Mortgage with Student Loans?
USDA Loans | Posted on October 11, 2019 at 2:53 pm by Sean Stephens
What Are Current USDA Student Loan Guidelines? As we all know, student loan debt can have a major impact on mortgage qualifying. In today’s topic, I will explain how you qualify for a USDA loan with student loans and discuss
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