My mother did this in 1990. As a single parent she bought the land and a modular home all on her own. She was my super hero. Now it's my turn. As a 45 yr old I'm tired of unruly neighbors and paying a crazy rent. My son and I deserve our own space. I'm just so afraid to take the leap.
This is a great option for many. I went through the process many, many years ago and though I didn’t end up getting it (didn’t have the 2 yr employment record at the time), it was a very educational process to go through. I eventually bought land to start (fully paid for) and then built a small cabin using creative financing and paid as much as I could as I went. There are a lot of options out there, but one has to research and educate themselves as much as possible before buying.
@@gloriaespinosa2560California is a tough place - was very expensive when I lived there back in 80s, so can’t imagine how high it must be now. I was able to build through a tiny house company that helped people through workshops in my area. I had enough money for the basic framing materials the workshop required, and then was able to get $12K thru personal loans from two friends for the remaining material to do the roof, insulation, and house wrap so it was dried in. From this point, I did what I could when I could money-wise. We were able to frame up the initial build on the house in a weekend with 6 workshop participants learning from the instructor (who also did quite a bit of prep work prior to the build). The roof and house wrap took a little while to complete due to friends’ schedules. The insulation was done over several months when I was on site (I traveled between locations while building so it was quite the adventure to say the least!).
All the education in the world didn't protect me from thieves! Real estate license for four years college degree homeowner at 26 then all my tools to parent healthy son age 14 & daughter 10 taken because they attacked my finances sold home for one million 2005 to pay doctors & lawyers. Then took my children who needed a healthy mom & her home. At 50 everything gone & sleeping in my car. At 63 isolated and no car since 2012.
Two things not mentioned here: 1. USDA requires a home inspection, 2. this home must be the buyer's primary residence, and must be occupied by the buyer for 5 years. This program is not designed for flippers.
For everybpdy asking about the 110k income cap, thats just an example, the cap depends on the median income of the area youre looking to buy in, but any qualified lender should be able to find out what that cap is for you if you ask. Great video very helpful.
I have a 2 unit in Chicago -FHA- and a great portion of my company has move to a rual area roughly 90 miles outside of downtown Chicago. Would I be disqualified with is loan product?
Hello Wayne, thank you for this video. Question: Are you able to use a Rural Development Loan for mobile or manufactured loans in park or on private land?
Hello! Im looking to buy a house and this sounds pretty interesting. I am a first time home buyer and Im in Utah. Im already talking to a Realtor but he has not mentioned this at all. I need some help I guess!!
This is not a common loan. Realtors may not know about it. If you are still in the market, please ask your lender. To see if the area or property is eligible, you can Google the USDA eligibility web site.
You talked about the max income being $110K but what is the minimum income? Further, does USDA funding run out? I'm in the mix of this process and #1: I can't find a home in my price range to save my life because they won't pass inspection and #2: I was just informed that USDA is sending out HB4 letters. I was told that this letter indicates that there is no funding and that one can expect to have a delay in funding i.e. closing for an additional 60 days. Great, just great. It's bad enough that the COE is just for a certain amount of days, if you added a DPA to the mix that expires a certain amount of days (less days than the COE) and finding a suitable home that will pass inspection will take like.....forever. Overall, the program sounds great but from someone in the mix I have never had so many disappointments from seeing the house of horrors to finding out that there may not be any funding available once I find the house that can pass inspection. Let's talk about that.
The problem is that the household income limit is very low, to qualify for the loan. If you go higher than this relatively low limit, you are not eligible for the USDA loan.
This is actually not a problem as the entire purpose of these particular loans is to enable those who are low income to have the opportunity to own their own home. If you make above the limit it means you qualify for other loans that low income earners cannot qualify for. I hope that helps.
My only income is 1900/month ssdi. I have no debt and 730 credit score. I'm currently stuck in a HUD apartment in Portland, OR, a city I hate. I would love to move back to TN. But I'd be willing to live anywhere in the country without a cold winter and within a 2 hour drive of major medical for my disabilities. I'm not sure how I'd pay to move accross the country, so I'm willing to stay closer to my current location. I KNOW that my health would improve in a house wirh a yard. Is this a pipe dream?
You not mentioning the fact your income has to be in 80% of median income so you have to make in his example 80% of $110k wich means you have to make between 90 and 110 k to qualify
The income caps are ridiculously low, not 100,000.00, across the board. It's based on location. You need to be on poverty level income. It has to be rural area also.
Also if you're too low on income you get rejected as well. You need to be within a 10k goldilock range in order to qualify, I got rejected because my income was "too low".
Depends on the number of people in household, and the area. There are 2 USDA loans, direct home loan, which has caps set lower for very low and low income borrowers, and guaranteed loan which has caps for moderate income which is usually no where near ridiculously low. All the info is on their website for both loans.
I was looking in tonopah az the cap for 1-4 person home was over single or combined was around $112,000, if you make that you should qualify for other loans. This is great if you are single, or low income earners. I make about 80k a year single this is ideal for me.
What is the best way to go about using a USDA loan if you are wanting to buy raw land and build your home? I've had quite a bit of trouble trying to find lenders that offer construction loans without wanting 20% down which almost defeats the purpose of the loan to my understanding.
I have to ask you this also if they’ve got a figure on the foreclose property, can you bargain or are you obligated to that figure? And I’m getting ready to look at one on Thursday I hope maybe you can get to me before then.
Wayne, what if your assets well exceeded the qualified income for USDA , question , but net cash is less than necessary to 😅qualify. Also, in that same breath, can you buy raw land and the development cost for that as well? And I have another big question the infrastructure on Raw i.e. well , 5:56 septic tank lights drainage all that, wouldn’t you have to have a lot of properties that you could sell to recoup your money? Additionally, would you want to put a unit on the property or sell the land outright ?
I have a credit score of 795, I’m 25 and my grandparents are thinking of seeking the family farmland that’s been in the family for over 150 years. I have a full time job should I try to apply for this? I haven’t been with my employer for two years though
Just a quick question. I'm scheduled to go look at 9 rural acres in a semi developed area. Basically horse property. Dirt County maintained roads, power nearby. No history of it ever being ag land other than open grazing land years ago. Must drill for Well water which isn't an issue. Has an annual HOA fee of $200 for snow removal when necessary. If I have animals, goats, sheep or whatnot and sell them at the end of summer, would I have any chance of getting an ag loan? My household income is around $155000, and have over 1 mil in my home as equity. Thanks for your time. Bill
I recevie SSI of 1650.00 per month and Have a side job of 2400.00 per month. Could I still be approve if all the other areas of my application passes ?
Looking to do this it's a lot of info. Just want some land that is inexpensive to park my travel trailer. I work for Uber Eats does that count or does it have to be a regular job with a W-2?
I'm tired of renting homes the last landlord did not want to renew my lease and I was almost homeless until I found that I went to the homeless resource center and they put me in a bridge housing program that pays for my hotel stay until they find me a place to rent through property Management I also get Section 8 so this bridge housing is paying for my hotel my deposit and my first month's rent in my application fees thank God I'm not homeless because of that program me and my kids so now I just want to try to own some land and home a home in a rural development but getting this loan is going to be tough because I don't have a job for 2 years yet I work for Uber Eats for 4 months already but that's not a W-2 job I hope it doesn't have to be a W-2 job
Hi Wayne I have few questions can i get this loan as a single person? My plan was to buy an older mobile home on a private land outside the city I usually look for dirty cheap ones which they get sold within hours of listing, can I get a loan for such a property, they usually sold as is or does the property has to pass a USDA inspection, i have some money I can put down no problem but in general I don't wanna spend more than 60k even if I'm approved I don't wanna live in debt for years
I Appreciate your help; your videos are great and its beneficial information; I am a potential first-time home buyer, and I need some help/tips, please
Your information has been so helpful. I am getting married in 1 month and plan to buy a house in the next couple years, intend to save around 3-4 thousand for a down payment if we can, we combined make just under 50k per year before taxes.. is this going to be possible for us? I've always dreamed to own a home so i can be more self sufficient, garden and whatnot.. but I know I could never afford the down payment for a conventional loan.
To add we would want to live in oregon or Washington, where our families are from. My credit is a little over 660, he will be working on building his credit and we will likely be around the same or better in a couple years. I'm terrified of the whole process but hungry to chase my dream and live a better life than living in my family's garage.
Wayne sir. You are such a wealth of knowledge. I only wish you were licensed in Florida. Would you know of any reputable lenders/mortgage companies in Florida that deal with these types of loans?
I have a guy in central/east FL, he’s helped me an my father buy a few properties over the last few years since we moved down. Reply if that’s the area of FL your in.
My morgage payment got so high Inhad to sell my house. bought a piece of land. Then I gound that banks don’t give loans not even for a small house. even though I service my rv: gas, propane, black, and grey tanks service at the Rv shop in town. I’m not allowed to sleep overnight on my land. the neighbors call the building department and find me. I’m a technician making less than 60k. is there anyloans for people in my situation? my son keep applying for jobs but I guess because he’s autistic is hard for him to pass the interviews. Is there loans for people in our situation?
Home warranties vary in pricing and can be a la carte... but one service call can easily exceed $800... like an hvac compressor... and generally the first year is paid for by the seller if your agent puts it in the contract in Texas.
thanks for the knowledge! nervous about the debt to income with these , with that 110K income cap, how can I, with an existing mortgage (air bnb property) qualify? or is the debt to income more lenient as well?
There’s a restriction on owning other property. You can only do this program if the place you’re buying is closer to your workplace and more than 50 miles from your existing property (check the numbers on that, but that’s the basic way that it works)
You can only qualify for this program if it’s your primary residence for at least 5 yrs I think is the minimum you should call the number and they will assign you to someone that can answer all your questions
Did you really just say to get a Home Warranty? Bruh... what an epic waste of money, they charge you per visit (it's their people)... literally the only time it could potentially pay off is if a major system goes and it's still going to be a pain dealing with them..... Just save an emergency fund.
Hi Wayne, thank you for your knowledge. My husband and I are beginning to look at rural properties as first time buyers. Is there a loan option that would cover a piece of land that has utilities and an unfinished cabin on it? The property we are eyeing has a 800ft home that is livable but unfinished interior - my husband is a carpenter and we have been living in our RV full time so we have no problem buying something like this and finishing it, but I am wondering if this would qualify for a USDA loan of any kind or what types of loans I should be looking at. Thank you so much in advance.
Hi great video! If I have been working part time for the last two years for an engineering firm (cause I have been in graduate school). When I go to full time when I graduate, can I get one of these loans? Do the two years of part time count and years on the job. I will be full time working when I try and apply for this loan. Thanks !!!
What you get out of renting is learning to live and manage your money. If you can’t do it renting, you won’t survive when all utilities fall on you 🤷♂️
There are rural areas in California. If you go to USDA eligibility website, you can look at the map and zoom in to see what rural areas are or type in an address to verify if it's in a rural area. There are also videos on how to do this. Good luck!
My mother did this in 1990. As a single parent she bought the land and a modular home all on her own. She was my super hero. Now it's my turn. As a 45 yr old I'm tired of unruly neighbors and paying a crazy rent. My son and I deserve our own space. I'm just so afraid to take the leap.
You can do it 💪🏽 we believe in you, it’s your turn to become the Hero for your son 😇
thank you im doing it also@keystosuccess565 🎉
Just do it. You'll thank me later.
You got this! 🥰
Thank you
This is a great option for many. I went through the process many, many years ago and though I didn’t end up getting it (didn’t have the 2 yr employment record at the time), it was a very educational process to go through. I eventually bought land to start (fully paid for) and then built a small cabin using creative financing and paid as much as I could as I went.
There are a lot of options out there, but one has to research and educate themselves as much as possible before buying.
I’m very curious what kind of creative financing did you use? I’ve got land but when it comes to building it’s almost impossible in California
@@gloriaespinosa2560California is a tough place - was very expensive when I lived there back in 80s, so can’t imagine how high it must be now.
I was able to build through a tiny house company that helped people through workshops in my area. I had enough money for the basic framing materials the workshop required, and then was able to get $12K thru personal loans from two friends for the remaining material to do the roof, insulation, and house wrap so it was dried in. From this point, I did what I could when I could money-wise.
We were able to frame up the initial build on the house in a weekend with 6 workshop participants learning from the instructor (who also did quite a bit of prep work prior to the build). The roof and house wrap took a little while to complete due to friends’ schedules. The insulation was done over several months when I was on site (I traveled between locations while building so it was quite the adventure to say the least!).
All the education in the world didn't protect me from thieves! Real estate license for four years college degree homeowner at 26 then all my tools to parent healthy son age 14 & daughter 10 taken because they attacked my finances sold home for one million 2005 to pay doctors & lawyers. Then took my children who needed a healthy mom & her home. At 50 everything gone & sleeping in my car. At 63 isolated and no car since 2012.
Two things not mentioned here: 1. USDA requires a home inspection, 2. this home must be the buyer's primary residence, and must be occupied by the buyer for 5 years. This program is not designed for flippers.
Oh, Good! Flippers tend not to care as much about the neighborhoods they affect when they build fancy homes in cheaper locations.
Hi, can I get a USDA loan to build my house?
@@kenialopez8029 - USDA construction loan
Is the home inspection a first time thing or a routine inspection?
For everybpdy asking about the 110k income cap, thats just an example, the cap depends on the median income of the area youre looking to buy in, but any qualified lender should be able to find out what that cap is for you if you ask.
Great video very helpful.
Great Video! Just found out about this program last week!
Plan to close on a house next month. No more renting for me !
Awesome Ike! Congratulations!
🙏
Hey Wayne
I like the way you speak! Sharp, snappy, to the point ! Way to be direct and keep your videos interesting 😜
Thank you Bill!
Can you recommend options to secure a loan without p.o.i.?
Just started a small business and unsure of options.
Thanks
Bill
I have 785 credit scores. I will go ahead to apply this program tomorrow
Did you get it??
With a credit score like that banks will throw money at you.
From gentilly, moved to San Antonio. Loving this series. After buying my house, I am now looking for hunting property. Excellent videos!
Thank you for your video, I’m going to try this in Maine.
This is great information. I hoping to be able to take advantage of this program.
Go for it!! It’s a great opportunity to get into a home for very little to no money. Reach out to me if I can help at all.
I have a 2 unit in Chicago -FHA- and a great portion of my company has move to a rual area roughly 90 miles outside of downtown Chicago. Would I be disqualified with is loan product?
Can you do a video describing more of a USDA construction loan? Thank you for sharing!
I like this guy .
Interesting stuff, I think this is really good for first time home buyers
It is great for them!
Hello Wayne, thank you for this video. Question: Are you able to use a Rural Development Loan for mobile or manufactured loans in park or on private land?
I think the mobile home has to be newer then 76 but yes I believe you can
Hello! Im looking to buy a house and this sounds pretty interesting. I am a first time home buyer and Im in Utah. Im already talking to a Realtor but he has not mentioned this at all. I need some help I guess!!
This is not a common loan. Realtors may not know about it. If you are still in the market, please ask your lender. To see if the area or property is eligible, you can Google the USDA eligibility web site.
Can I use this to buy a mobile home to put on a rural piece of land or does the property need an existing house?
You talked about the max income being $110K but what is the minimum income? Further, does USDA funding run out? I'm in the mix of this process and #1: I can't find a home in my price range to save my life because they won't pass inspection and #2: I was just informed that USDA is sending out HB4 letters. I was told that this letter indicates that there is no funding and that one can expect to have a delay in funding i.e. closing for an additional 60 days. Great, just great. It's bad enough that the COE is just for a certain amount of days, if you added a DPA to the mix that expires a certain amount of days (less days than the COE) and finding a suitable home that will pass inspection will take like.....forever. Overall, the program sounds great but from someone in the mix I have never had so many disappointments from seeing the house of horrors to finding out that there may not be any funding available once I find the house that can pass inspection. Let's talk about that.
Any luck yet?
You need to explain what the cons are if you purchase a home and live or for x amount of years and decide to sell it? Why this isn’t talked about ?
Then you just sell it like normal, any grant that you qualify for is paid back once you sell the home.
You could ask a little nicer geez
Thank you so much for this. Looking to buy this year in NY.❤
Thank you for this video. ❤
How do I find house in closer area approved for USDA loan?
Thanks, Wayne, I have known of this though haven't been able to take action before now.
live in Madisonville! looking to move to Folsom/Loranger area. so happy i stumbled upon this!
The problem is that the household income limit is very low, to qualify for the loan. If you go higher than this relatively low limit, you are not eligible for the USDA loan.
This is actually not a problem as the entire purpose of these particular loans is to enable those who are low income to have the opportunity to own their own home.
If you make above the limit it means you qualify for other loans that low income earners cannot qualify for. I hope that helps.
Thank you so much for this information!
My only income is 1900/month ssdi. I have no debt and 730 credit score. I'm currently stuck in a HUD apartment in Portland, OR, a city I hate. I would love to move back to TN. But I'd be willing to live anywhere in the country without a cold winter and within a 2 hour drive of major medical for my disabilities. I'm not sure how I'd pay to move accross the country, so I'm willing to stay closer to my current location. I KNOW that my health would improve in a house wirh a yard. Is this a pipe dream?
I encourage you to just believe everything is possible.. nothing is impossible for those who believe
Not if you get a roommate or two!
yooo wanna be disabled pen pals? (my disability application is processing)
Don't you have To Be without decent, safe and sanitary housing? And what this mean?
Would I be able to use any of my VA benefits to help close the deal? I’m 90% for right now and got a COA from the VA already.
Can you buy discount points towards a USDA direct loan? Any way to get the rate below 4%?
Thanks you just gave me all the confidence
What if the person is on disability for income and not employed? Will this option not work for them then? Thanks in advance Wayne! You're awesome!!
Good advice
Great information, thank you!
Can I buy a home like this as a single person with no family? What exactly does multifamily mean?
You not mentioning the fact your income has to be in 80% of median income so you have to make in his example 80% of $110k wich means you have to make between 90 and 110 k to qualify
I'm pretty much all set I'm just not sure if my sister can or wants to switch schools.
Excellent info
Does disability and/or self-employment income applies? How about new construction?
Hey there Wayne, what kind of examples can you give or ask a lender for right now ? As fa as perks to buy since their refinance is down
The income caps are ridiculously low, not 100,000.00, across the board. It's based on location. You need to be on poverty level income. It has to be rural area also.
Also if you're too low on income you get rejected as well. You need to be within a 10k goldilock range in order to qualify, I got rejected because my income was "too low".
Depends on the number of people in household, and the area. There are 2 USDA loans, direct home loan, which has caps set lower for very low and low income borrowers, and guaranteed loan which has caps for moderate income which is usually no where near ridiculously low. All the info is on their website for both loans.
Yes, there is a calculator where you can plug in your income and it will let you if you are eligible ( income to ratio)
I was looking in tonopah az the cap for 1-4 person home was over single or combined was around $112,000, if you make that you should qualify for other loans. This is great if you are single, or low income earners. I make about 80k a year single this is ideal for me.
What is the best way to go about using a USDA loan if you are wanting to buy raw land and build your home? I've had quite a bit of trouble trying to find lenders that offer construction loans without wanting 20% down which almost defeats the purpose of the loan to my understanding.
I have to ask you this also if they’ve got a figure on the foreclose property, can you bargain or are you obligated to that figure? And I’m getting ready to look at one on Thursday I hope maybe you can get to me before then.
Can you get a usda loan on social security disability ❓
Wayne, what if your assets well exceeded the qualified income for USDA , question , but net cash is less than necessary to 😅qualify. Also, in that same breath, can you buy raw land and the development cost for that as well?
And I have another big question the infrastructure on Raw i.e. well , 5:56 septic tank lights drainage all that, wouldn’t you have to have a lot of properties that you could sell to recoup your money? Additionally, would you want to put a unit on the property or sell the land outright ?
I have a credit score of 795, I’m 25 and my grandparents are thinking of seeking the family farmland that’s been in the family for over 150 years. I have a full time job should I try to apply for this? I haven’t been with my employer for two years though
Just a quick question.
I'm scheduled to go look at 9 rural acres in a semi developed area.
Basically horse property.
Dirt County maintained roads, power nearby.
No history of it ever being ag land other than open grazing land years ago.
Must drill for Well water which isn't an issue.
Has an annual HOA fee of $200 for snow removal when necessary.
If I have animals, goats, sheep or whatnot and sell them at the end of summer, would I have any chance of getting an ag loan?
My household income is around $155000, and have over 1 mil in my home as equity.
Thanks for your time.
Bill
does this work for new construction on rural land too?
Yes, new construction under 2,000 sqft, they have a map of eligible areas.
@@igotanimac1 awesome. thanks
@@igotanimac1where is the map?
@@kingkoti4912 eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
www.rd.usda.gov/programs-services/single-family-housing-programs/single-family-housing-direct-home-loans
@@kingkoti4912usda.gov. Input your area of interest to determine eligibility
If I'm living in a mobile home with a mortgage, can I use this loan to buy land to move my home onto?
USDA LOANS does the land comes with the property?
Absolutely!
Can you do a video about buying real estate with a LLC?
Sure thing!
@@TheRealWayneTurner Awesome ✊🏾
Are you required to have a land survey done? I’m looking at 15 acres with home
Do you see exceptions for the 620 credit score ?
I recevie SSI of 1650.00 per month and Have a side job of 2400.00 per month. Could I still be approve if all the other areas of my application passes ?
Hey there, if you need help I advise you contact.
@loanagentjude.
On instagram
Hi Wayne, how could I get in touch with you please?
Thank you very much.
This video was so informative, and I would like to learn more. How do I find someone in my area to help me?
Reach out to me at ContactWayne.com and I'll connect you with someone
Does the debt to income ratio matters? Like can that play a huge factor?
Yes, that will affect whether you can qualify.
Looking to do this it's a lot of info. Just want some land that is inexpensive to park my travel trailer. I work for Uber Eats does that count or does it have to be a regular job with a W-2?
And how much you have to pay back ?
I'm tired of renting homes the last landlord did not want to renew my lease and I was almost homeless until I found that I went to the homeless resource center and they put me in a bridge housing program that pays for my hotel stay until they find me a place to rent through property Management I also get Section 8 so this bridge housing is paying for my hotel my deposit and my first month's rent in my application fees thank God I'm not homeless because of that program me and my kids so now I just want to try to own some land and home a home in a rural development but getting this loan is going to be tough because I don't have a job for 2 years yet I work for Uber Eats for 4 months already but that's not a W-2 job I hope it doesn't have to be a W-2 job
I'm not a American, am I elegible for this Program ?
If you have lower than 620 credit score could a co-signer be added?
It says you have to be without housing to get it.
Can a barndominium be covered by the usda loans ?
Did you ever get an answer?
Can a USDA loan be used to build a four plex?
What about septic tank inspection, water inspection,
Do I need to include income paid to my business and not me directly?
Thank you very much
Do you have to have been working in the state you apply for? I want to move out of my current state, should I rent and work there first?
Sorry to you didn’t get an answer. Many people wonder the same
Hi Wayne I have few questions can i get this loan as a single person? My plan was to buy an older mobile home on a private land outside the city I usually look for dirty cheap ones which they get sold within hours of listing, can I get a loan for such a property, they usually sold as is or does the property has to pass a USDA inspection, i have some money I can put down no problem but in general I don't wanna spend more than 60k even if I'm approved I don't wanna live in debt for years
Can you use it being a disabled veteran.
What website did you go through
thanks, for this information. I live in Georgia and will be a first time home buyer. What is the best type of home loan to apply for?
Definitely recommend looking into FHA and USDA. Working with a lender will give you the best guidance. I’d be happy to connect you with one!
What if you are building a home??
You can buy new construction with a Rural Development loan, but you need a different type of loan to build yourself.
@@TheRealWayneTurnerwhat’s a Combination Construction-to-Permanent (Single Close) Loan Program ?
I Appreciate your help; your videos are great and its beneficial information; I am a potential first-time home buyer, and I need some help/tips, please
I'm happy to help! Please reach out to me via Instagram or at www.ContactWayne.com - I'd be glad to give you some personalized tips!
how to buy residential commercial property with a usda loan?
Your information has been so helpful. I am getting married in 1 month and plan to buy a house in the next couple years, intend to save around 3-4 thousand for a down payment if we can, we combined make just under 50k per year before taxes.. is this going to be possible for us? I've always dreamed to own a home so i can be more self sufficient, garden and whatnot.. but I know I could never afford the down payment for a conventional loan.
To add we would want to live in oregon or Washington, where our families are from. My credit is a little over 660, he will be working on building his credit and we will likely be around the same or better in a couple years.
I'm terrified of the whole process but hungry to chase my dream and live a better life than living in my family's garage.
Omg thank you so much ❤
Be close to an interstate maybe too
What if you have no credit which means no debt.
Can the 2 years working be 2 different jobs ?
Awesome thanks!
Where do i find your video on increasing credit score.
Hey there, if you need help I advise you contact
@loanagentjude
On instagram
Wayne sir. You are such a wealth of knowledge. I only wish you were licensed in Florida. Would you know of any reputable lenders/mortgage companies in Florida that deal with these types of loans?
I sure do! Reach out www.ContactWayne.com
I have a guy in central/east FL, he’s helped me an my father buy a few properties over the last few years since we moved down. Reply if that’s the area of FL your in.
My morgage payment got so high Inhad to sell my house. bought a piece of land. Then I gound that banks don’t give loans not even for a small house. even though I service my rv: gas, propane, black, and grey tanks service at the Rv shop in town. I’m not allowed to sleep overnight on my land. the neighbors call the building department and find me. I’m a technician making less than 60k. is there anyloans for people in my situation? my son keep applying for jobs but I guess because he’s autistic is hard for him to pass the interviews. Is there loans for people in our situation?
If i currently own a home would I have to sell it to purchase another home thru usda? Just curious if I could rent it
To do this type of loan the home has to be your Primary Residence!
I have the land in another state. I want to buy manufactured home new.
Can I do this in a rural setting?
You can go to the website and you can check the area it will tell you everywhere the loan is available
Does a home warranty make sense for a rental property for the owner? 800 a yr is about 10% of overall cash flow
Home warranties vary in pricing and can be a la carte... but one service call can easily exceed $800... like an hvac compressor... and generally the first year is paid for by the seller if your agent puts it in the contract in Texas.
@@rockstertx Always be sure to read the fine print! Ensure the home warranty company you use fits your needs!
thanks for the knowledge! nervous about the debt to income with these , with that 110K income cap, how can I, with an existing mortgage (air bnb property) qualify? or is the debt to income more lenient as well?
There’s a restriction on owning other property. You can only do this program if the place you’re buying is closer to your workplace and more than 50 miles from your existing property (check the numbers on that, but that’s the basic way that it works)
You can only qualify for this program if it’s your primary residence for at least 5 yrs I think is the minimum you should call the number and they will assign you to someone that can answer all your questions
Sounds like my e A great deal
Do you have to have a 620 credit score
Did you really just say to get a Home Warranty? Bruh... what an epic waste of money, they charge you per visit (it's their people)... literally the only time it could potentially pay off is if a major system goes and it's still going to be a pain dealing with them..... Just save an emergency fund.
Would love source links in your descriptions
Added!
Hi Wayne, thank you for your knowledge. My husband and I are beginning to look at rural properties as first time buyers. Is there a loan option that would cover a piece of land that has utilities and an unfinished cabin on it? The property we are eyeing has a 800ft home that is livable but unfinished interior - my husband is a carpenter and we have been living in our RV full time so we have no problem buying something like this and finishing it, but I am wondering if this would qualify for a USDA loan of any kind or what types of loans I should be looking at. Thank you so much in advance.
It’s possible a USDA loan would work. Reach out to me at ContactWayne.com and I’ll see how I can help
Can I rent out the property if it’s a two family home?
Yes! You have to live in one unit for a minimum of 1 year.
cam we get this losf if we get social sec i get $900 a month
Hi great video! If I have been working part time for the last two years for an engineering firm (cause I have been in graduate school). When I go to full time when I graduate, can I get one of these loans? Do the two years of part time count and years on the job. I will be full time working when I try and apply for this loan. Thanks !!!
Hey there, if you need help I advise you contact
@loanagentjude.
On instagram
I’m ready to buy in California 😅 good luck 🍀 to me
Good luck!! Reach out to me if I can help you start the process
Jettie Lodge
what if you are retire an owe land in want to build
You have to have the income to qualify for the mortgage, so that could include social security, a pension, etc.
@TheRealWayneTurner were looking at 450.000 is that possible or out of the range
What you get out of renting is learning to live and manage your money. If you can’t do it renting, you won’t survive when all utilities fall on you 🤷♂️
I just subscribed
What areas are considered rural in California?
The desert the mountains
The Pacific ocean....😊
There probably isn't any empty land available; due to the masses of people...🤷♀️
There are rural areas in California. If you go to USDA eligibility website, you can look at the map and zoom in to see what rural areas are or type in an address to verify if it's in a rural area. There are also videos on how to do this. Good luck!