I was able to get a USDA direct loan after trying to get the usual FHA. Ended up getting a better house thay cost more with lower mortgage. It ended up being alot of work but with a 30 year investment it's worth the hastle. You just have to stay on top of it.
@@vectox001 income can increase once the loan is secured. Debt to income, income limits, are specifically for approval. Once you buy the house It's like most other loans, but because it's a government loan, other government programs can be utilized.
see if you can open this. It is chapter 10 of the USDA guidelines that lay it all out chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/www.rd.usda.gov/files/3555-1chapter10.pdf
Does it matter if you're buying a multifamily or single as a first time home buyer (to live in vs to rent out) ? Also, does it matter if you're married or single?
USDA has an awesome program which is the direct program. I would see if you qualify for that one with your income. It is direct through them but it has lower rates than what I can do and it has some pretty magical aspects to it if you made the parameters, USDA has a bunch of information about it on its site.
For a USDA rural loan on a home that was newly built in a new community, would it still be zero down and would there still be out of pocket costs like earnest money? Appraisal? Etc.
The worst thing you will hear is that you have work to do and the next steps. Don’t be afraid. Thats literally the worst thing that will happen. I totally get the fear but you go this
I was able to get a USDA direct loan after trying to get the usual FHA. Ended up getting a better house thay cost more with lower mortgage. It ended up being alot of work but with a 30 year investment it's worth the hastle. You just have to stay on top of it.
Congrats on your home!:) USDA direct is a great program
@M яσуαlтєα sellers pay the commission of both realtors out of the sale. In my case I did not have a realtor and went straight to the sellers.
Did your income increase with time?
@@vectox001 income can increase once the loan is secured. Debt to income, income limits, are specifically for approval. Once you buy the house It's like most other loans, but because it's a government loan, other government programs can be utilized.
@ad1rteebum_673 are you saying it's better to buy directly from a seller than to go through a realter?
Green is your color love. 🔥💥🔥
Thank you
Thank you. I'm looking at houses in rural Texas and my income falls within the guidelines. USDA sounds like a very good option.
What’s the income guild lines?
Can you make a video all about usda? What if we have 3 year old collections on our report does that get counted for usda?
see if you can open this. It is chapter 10 of the USDA guidelines that lay it all out
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/www.rd.usda.gov/files/3555-1chapter10.pdf
Does it matter if you're buying a multifamily or single as a first time home buyer (to live in vs to rent out) ? Also, does it matter if you're married or single?
You can only buy single family, condos and the like with usda but not multi family properties (that would be through fha)
what if my income is below the moderate bracket but above the low/very low income bracket. do i still qualify?
USDA has an awesome program which is the direct program. I would see if you qualify for that one with your income. It is direct through them but it has lower rates than what I can do and it has some pretty magical aspects to it if you made the parameters, USDA has a bunch of information about it on its site.
❤
What are the intrest rates for USDA in today’s market?
rates are changing quite a bit right now
I just got a 4%
How far would be to far from work location, to be eligible for a mortgage?
It has to be a reasonable commuting distance. Anything over an hour is questionable.
@@JenniferBeeston thank you. When referring to Los Angeles, with traffic or without traffic?
@@JenniferBeeston thank you much for always answering i really appreciated. 😁✌🏼🤙🏼
Can you be a self employed barber 💈? Can someone like qualify?
As long as you have two years tax returns showing 💈income, then totally cool
For a USDA rural loan on a home that was newly built in a new community, would it still be zero down and would there still be out of pocket costs like earnest money? Appraisal? Etc.
Yeah you pay all that
What is "earnest money appraisal" please?@TheMightyDR84
100...
I'VE been looking into applying but i make around 45k a year with abt a 660 cs and i'm scared to apply but i don't want to get a denial
The worst thing you will hear is that you have work to do and the next steps. Don’t be afraid. Thats literally the worst thing that will happen. I totally get the fear but you go this
What is USDA?
Dep of agriculture
Another letter agency😊
Home loan / Lender
SUCCESS.princcess.teamo.