USDA

USDA loans are a great option for home purchases in a designated USDA Rural Development area. Offering 100% financing without a requirement for a down payment, competitive loan rates, and flexible credit requirements, these loans make homeownership accessible to a wide range of borrowers who ...

Some individuals wonder why it is important to buy rather than rent a home. You might believe it is cheaper to pay back a landlord instead of a bank. There are distinct advantages to buying an abode with USDA Loans and rural development loans. Many ...

Obtaining a USDA loan while managing student loans requires careful consideration of eligibility criteria. Even with existing student debt, borrowers can still qualify for a USDA loan if they meet certain requirements. Understanding Debt-to-Income (DTI) Ratio One crucial factor in securing a USDA loan with ...

If you have acquired a new disability due to an illness or injury, you do not need to depend on a friend or family member to house you. People with steady incomes can apply for Rural Development Loans to pay for new structures. Your new ...

You will encounter the first step through an automated underwriting system. There are several types, and these computer programs evaluate your credit and financial profile to make a preliminary judgment based on your information. USDA lending utilizes an automated system known as GUS. Guaranteed Underwriting ...

USDA loans are backed by the United States Department of Agriculture and are aimed at people wishing to buy a property in a rural area. People working from home or who can adjust their lifestyle to a rural setting can benefit from low mortgage rates ...

Understanding the Path Forward Filing for bankruptcy doesn’t mean you can’t obtain a home. Chapters 7 and 13 are legal arrangements that help people overcome financial difficulties and bounce back. Mortgage after bankruptcy is still an option.  Generally, you need to wait 3 years after ...

As a first time home buyer, this question may be haunting you throughout the loan process. Here are a few reasons why your underwriter may ask for more documents. The original documents sent in for review didn’t cover all the requirements to get your loan ...

The USDA Guaranteed 502 Program is an excellent loan for any individual interested in a home purchase.  It allows for minimal out of pocket cost and helps people obtain property in a manner unlike any other mortgage program. Society Mortgage is a leader in this ...

One thing many potential borrowers are unaware of is that there are two distinct types of USDA loans, the Direct and the Guaranteed.    USDA Guaranteed Loan The USDA Guaranteed Loan is facilitated by traditional lenders such as banks and mortgage companies. It allows borrowers ...

What Is The USDA Guarantee Fee? The USDA guarantee fee is a crucial component of USDA home loans, designed to facilitate 100% financing for eligible borrowers in designated rural areas. It consists of two main parts: the upfront guarantee fee and the annual USDA loan ...

When looking into a home purchase the USDA Home loan program is a great option as it is intended to help individuals get into a home without having to put a down payment on the property.   However, the USDA program has a lot of guidelines ...

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 ...

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 ...

Here at Consumer Real Estate we specialize in helping individuals utilize the USDA Home Loan Program to make the dream of home ownership a reality. The USDA Home Loan program is a 100% financed program that allows people to purchase a new home with no ...