(800) 806-9836 Ext. 280
SeanS@MPLX.org
Metroplex Mortgage Services, Inc.
FL, AL, TN NMLS# 185264
TX Branch NMLS# 356690
In order to receive a USDA mortgage loan the property must also meet a variety of requirements. Since the USDA loan program was created to grow rural communities, the first requirement is the property must be located in a qualifying rural area.
In order to qualify as a rural area the property cannot be associated with an urban area and must meet one of the population requirements below.
To ensure the house meets USDA quality standards an quailifes appraiser will inspect the property to ensure it meets the minimum property requirements set forth in HUD’s Single Family Housing Policy Handbook. Such as:
With more and more buyers looking in rural areas, many of them also inquire about options for acreage and how much can be financed with a USDA loan. Well, the good news is that updated USDA guidelines now permit improved... Read More
Once you have found the perfect home, what should you do if the property is located on a private road? How can a private road affect your mortgage approval? Thus, today’s video will discuss what to do when the property... Read More
When you hear about USDA loan benefits, such as 100% financing or the ability to finance closing costs, it can be easy to focus on the financial advantages and then forget about USDA property eligibility. USDA loans allow... Read More
In today’s video, I will share with you the details regarding USDA flood zone requirements and how to navigate the qualifying process. However, before we get started, don’t forget to take advantage of our FREE download,... Read More
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... Read More
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... Read More
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... Read More
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