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August 2014

USDA

What Is A USDA Construction Loan? Requirements for 2025

While a regular USDA loan lets you buy a house that’s already built, a USDA construction loan lets you build a new one instead. USDA considers a property new construction if the dwelling has been built within 12 months and has never been occupied.  What ...
USDA

Appraisals Versus Home Inspections

Do I need both? Home appraisals tell you how much a home is worth, and a home inspection tells you why you might not want to buy it, regardless of price. Both processes have the capacity to derail home purchases.   Home Appraisals Home appraisals ...
Mortgage Tips

What is a RESPA on a Mortgage and What Does it Cover?

The Real Estate Settlement Procedures Act (RESPA) is an act passed by Congress in 1974.  It was designed to protect potential homeowners and enable them to become more informed consumers.  This act requires lenders to provide more information to borrowers at certain points in the ...