2022 USDA Rural Development Loan Requirement Guide For First Time Home Buyers

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The USDA Rural Development Loan (RD Loan), is a great way to buy a house with ZERO down payment! In this video, first time home buyers will learn how to apply for the USDA rural development loan, who qualifies for the loan and what type of properties can be bought with a USDA loan!
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Hi, I’m Nicole Nark, a full-time Realtor® at HomeWay Realty in Little Rock. I came to Little Rock with the love of my life, I am a proud Mom of two furbabies (Mini Schnauzer Mix and German Shepard), a Graduate of Communications from the University of Arkansas-Fayetteville and Honor Graduate of Arkansas Real Estate School in Little Rock.
I believe that home ownership lays the foundation for a life of financial security and freedom.
From building equity in a home, to the tax benefits it provides, buying a home is the most important financial decision most people make during their life. For this reason it is important to work with a professional who is committed to act as an advocate for you and your best interests.
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5 окт 2024

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Комментарии : 571

@gedeonlebon3992 3 года назад

You are God sent. Thank you for teaching and educating people in Real Estate by creating quality content. - I have nothing but gratitude for what you do. - Thank you Nicole

@NicoleNark 3 года назад

Thank you for watching! Your kind words just made my day! 😊

@pkaboo7832 2 года назад

I just found this and miraculously you spell out exactly the questions that nobody else could answer! I have forwarded this on to a couple of people I know we're desperately wanting to be aware of this stuff so they could decide what direction to go in!

@marcothompson7891 2 года назад

What is the credit score requirements for the construction loan

@ralphdahl767 2 года назад

Can you use this program for a for sale by owner where the owner hold's the note ?

@ahomesteaddream 2 года назад

I’m a single mom trying to research how to buy my own property for the first time. Thank you for breaking all of this down, it’s made me feel positive for the first time through my research process. I don’t feel like I’m drowning anymore.

@upstatemike2666 2 года назад

Find a mentor that can help you with buying a house or property. I read books before I bought my 1st house and thought I knew what to expect. However, I still made some mistakes and have learned from them in properties bought since. There are so many things beyond purchasing a house that must be thought of as well because buying a house is only half the battle. Understanding how to keep and maintain it is as equally important. Too many people regret buying a house because they didnt realize the after costs of homeownership. As a single mom one mistep could hurt you financially in the long run, so learn as much as you can. Most importantly, ask alot of questions because everyone is out to make a buck, they don't care if you keep your new house or not. People make money when you buy a house and when you lose that house. I wish you luck.

@TextMichael_Ralphy_Instagram 2 года назад

I am just writing to acknowledge our receipt of loan fromALEXANDER to our global org in the sum of $50,000. I'm grateful sir.

@AlanG.169 2 года назад

I love the speed and cadence of speech when explaining this complex and cumbersome process to a novice listener. You make the digesting process a breeze. You are a natural born teacher and probably unaware of such. Please, don't change your delivery style... its perfect.

@shaunandrews5138 3 года назад

I’ve been looking into this cuz my buddy said he got his house this way. This answered a lot of questions. Thank you.

@jrwheeler81 2 года назад

You do NOT have to be a first-time buyer to use USDA. You simply cannot have two active USDA loans at the same time. My husband and I bought our current home 14 years ago using a USDA loan. Now, we are in the process of selling that home and we are using USDA again for our next home that we are about to purchase. It's the absolute best option for a true no-money down mortgage loan. The only things that we had to pay for were our appraisal and our inspection. With our first home, the seller paid 100% of the closing costs, so we didn't have to pay a single dime at closing. In fact, we left our closing with more money than we walked in with. So many people think that they can only buy a house in the sticks or on farmland if they are going through USDA. This is entirely untrue. The home we bought with our first USDA loan back in 2008 is in the suburbs less than five minutes from the city. We are right outside of the city limits. It's in a fantastic neighborhood in a subdivision and it's super close to everything. We are less than two miles from the interstate with quick and easy access to shopping, restaurants, hospitals, etc. Our new home that we are in the process of buying is in the exact same area. It's actually just down the street in the same subdivision/cul-de-sac, so we aren't going far at all.

@MessgeMichael_ralphyOnInsta 2 года назад

I’m blessed and Highly favored by God, to have been awarded to be a recipient of this most gracious and prestigious Grant by ALEXANDER. I’m humbled and thankful, to say the very least. This is amazing!! My family is ecstatic!!! We’re extremely appreciative for your generosity.

@MoorenaEl 2 года назад

thank you so much for your testimony!!! you have inspired me!

@joemarks3719 3 года назад

What I learned about a USDA loan for a first time homebuyer. Excellent credit benefits you absolutely nothing, someone with a 600 score gets the same interest/pmi rate as someone with an 800 score. If I buy a home which is 150k with a USDA, it's 900 per month, 3% interest. I pay around $5000 closing. So does the 600 score. If I had 20% down, and went conventional, it's only $630 per month, 2.25% interest, and zero closing costs. 600 score wouldn't get approved for conventional. Down payment is far more important than credit score when buying a home. USDA total cost for a 150k home.....$330,500. Conventional with 20% down.....256800. $73,700 savings over the 30 yrs of the loan. But the issue then is, if you make median income, 44k where I live, how can you save $30k for a down payment? Live in the cheapest dump apartment you can find in a crime ridden area with roaches crawling all over you, drive a beater, eat bologna and ramen noodles, don't take any vacations, buy all your clothes @ goodwill/salvation army, no vacations, no hobbies, not a dime spent on anything you enjoy, work every single hour of overtime offered for about 18 months. Homeownership is set up for people who have a lot of cash. Very few people with median income have 30k in the bank, less than 1%. So the realtor now says, lets downsize to a 100k home...yes you can afford that easily......but they are all dumps....in crime ridden areas. Let's hope I survive the 18 months of living in hell, don't contract any diseases, and don't get shot by a criminal. The American dream.

@sethmonnett924 2 года назад

You have to have a 640 min. Credit score

@MiaMonique 2 года назад

You have said it all.

@loiswilliams9554 2 года назад

What she is saying is they are giving you the closing cost and there is 0 down payment. The only thing is everything I have looked at is at $300k to purchase. So your monthly payment will be extremely high. I hope I can find one affordable.

@luispagandumpsterdiveprops8151 2 года назад

The worst thing is that with a USDA loan you cant buy a house in an urban or well poblated area,you will need to move away where most of things still undeveloped, that means far from your job, mostly far from modern society and youll need to let go your social life if you have one. Plus if you find a land to build your house it must be under their criteria,you will never be able to build what you want unless you go off grid

@cmathews5909 2 года назад

@@loiswilliams9554 don't do it. This is an old 19th century con Americans don't remember. With that level of debt, sooner than later you'll be producing what some large corporation tells you to produce and not what your community, your folk and what YOU need. For colored folk, we need to follow a modified Mexican strategy and work/live together; which easier to do with 50+ acres. If you can find like minded folk, who can bring( in three years) their share of cash and learned complementary trade skills to the table, you'd be working with something. Going alone, look for abandoned or confiscated land, start small and grow. There is economically depressed areas here in the state of Ga. where you score 10 acres for well under $5k. If you worked the land it'd be ROUGH for a year or so, but you'd be free from debt and able to take a small loan later after you're established to increase output. MOST IMPORTANT, you're going to need a close community when you make your move. Millions of acres was stolen by gun point from black folk over the last hundred + year, so plan accordingly (considering the political climate).

@mgproperties2957 2 года назад

You might qualify for a USDA loan if you have an average salary for your area and a credit score of 640 or higher. USDA loans can be used to buy a home only in a rural or suburban area. Typically, qualifying areas have a population under 20,000. Great explanations! Excellent video. Very good presentation style. Thank you so much.

@yameshiaholden6561 2 года назад

In the video she said there is no credit score requirements for the USDA loan

@annaclover5003 2 года назад

@@yameshiaholden6561 I bought my usda with a terrible credit score Def below 600. I did write a letter with my application explaining why I really needed the property and how my current situation was not livable.

@yameshiaholden6561 2 года назад

ANNa Clover thank you so much for taking the time to reach out. I really appreciate and my situation is the same. God bless you and congratulations!

@stevied5648 3 года назад

Nicole, I just want you to know that you're a blessing to society. You have the knowledge and you're willing to share and teach. I appreciate you for taking to time to help the blind.

@florinew.sorrels5820 3 года назад

Credit Master Fix and his staff are GREAT to work with and they helped me tremendously. They handled everything and followed up every time it was needed. They are so helpful and were able to get my credit score up by almost 200 points in a few weeks. I am on my way to recovering from a bad divorce years ago, finally, thanks to Roy and his team. I recommend them to everyone who needs help with their credit. CREDITMASTERFIX🟡COM

@sonyafmoore 3 года назад

Thank you for this information on USDA. Very clear and informative and not speeding through the video. Great video

@NicoleNark 3 года назад

Thank you for your kind words Sonya! I am glad you found it helpful!

@Mr_Livin_Life 3 года назад

Hi Nicole, your video popped up in my recommendations this morning I guess because Im looking to become a first time home buyer. You're very informative and I would like to take time to say thank you. It's people like you who help people like me understand these programs a little better.

@florinew.sorrels5820 3 года назад

@drekanunez1 3 года назад

The manufactured home has to be 12 months old or less and purchased directly from the factory or manufactured home lot. I just learned this. I live in Florida.

@1southernitalian 3 года назад

No, that is incorrect. It must be a brand new home.

@monib6188 2 года назад

I'm a recently licensed MLO in the state of Florida working under Pacific Wholesale Mortgage and I am sooooo happy that you're teaching everyone about what is available. After the crash of 2008-2010 I feel that so many people have been left terrified to even ask why they get denied. Consumers have so much power now and it's sad that they don't know that. I got into this business because I want to genuinely help people as well. Many alien residents aren't aware of their rights as well. Continue what you are doing. I hope to get to a point where I'm comfortable enough to start putting myself out there more and be able to teach my future/potential borrowers!

@michaelwipeout2048 2 года назад

Hey there,as an MLO can you work remotely??

@monib6188 2 года назад

@@michaelwipeout2048 yes you can! It depends one the company you end up working with, but there are remote positions

@nayfleww 2 года назад

We are considering moving to Florida, any suggestions about where to start with this USDA loan process?

@JenL-sd8iy 2 года назад

Do I have to get a hard pull on my credit in order to see what I would qualify for? Last time I worked with an MLO it was an awful experience

@monib6188 2 года назад

@@nayfleww it’s good to get an idea of the area you plan to move to. It has to be more small town and rural in order to qualify for USDA

@maxwelltheportlycorgi7299 2 года назад

Be very cautious when considering a USDA direct loan! Even though I have made my payments on time every month since I purchased my home, they're reporting them as late! Repeated calls have not resolved the issue yet! They keep apologizing saying they will correct things on their end, but it still isn't. Try to get traditional financing and avoid the headache.

@maxwelltheportlycorgi7299 2 года назад

@@GullahGeecheeFarmer you're very welcome! I'm still trying to get this remedied. Also, there is a 10 year recapture clause for the subsidy on the Direct loans. In other words you must stay in the home for 10 years or you you will need to repay any subsidy assistance you may receive. If I could do it all over again, I would try for traditional financing. Best wishes on your home search and financing.

@mikeypooh1 2 года назад

What state is this in? I’m fixin to get a USDA loan.

@maxwelltheportlycorgi7299 2 года назад

@@mikeypooh1 I'm in Pennsylvania. However, USDA 502 Direct loans are managed by USDA Rural Housing department directly. USDA Guaranteed loans are made through a third party lender and are managed locally, usually by an approved bank. Know which one you are getting research thoroughly , and stay on top of things. Best wishes in your home buying process.

@mikeypooh1 2 года назад

@@maxwelltheportlycorgi7299 Thank you very much for your advice! I will take all into consideration and do my due diligence.

@maxwelltheportlycorgi7299 2 года назад

@@mikeypooh1 you are most welcome!

@destinyrisingchurchfnc 2 года назад

Thank you. As a pastor relocating to a new city and state, this info is helpful. Thank you so much for the teaching.

@nancysadirondackart50 2 года назад

I am closing on my house on Wednesday with my USDA loan! Heaven sent!

@NicoleNark 2 года назад

That's awesome, Nancy! 🎉

@cheriegill8778 2 года назад

Congratulations!

@shekinahbullock3967 2 года назад

Congrats! Enjoy your new 🏡

@jaybuilder8298 2 года назад

I already have a house but I wanted to thank you for sharing and spreading true, good and useful information I myself come across a lot of that could benefit from your videos

@danielmclendon8346 3 года назад

Questions and caveats... 1. Would living out of a RV (not a house) on the property (all utilities are up to local code standards) qualify under the 4000.1 standards? 2. What if we wanted to develop a couple camp sites and RV pads on the property to rent out to the public? Would that level of passive income exclude us from getting the loan?

@mikeypooh1 2 года назад

You just answered so many more questions than the realtor and lender did. Thank you very much ! Wish you were my realtor

@NicoleNark 2 года назад

Happy to help! 😊

@patriciaortiz4421 2 года назад

You're heaven sent. Thank you soooo much, so helpful. As a first time home buyer, this option was never even mentioned. Sending love and light to you. Thanks again

@MyFullFiguredLife 2 года назад

Thank you for all of this info 💛

@adntigger71015 3 года назад

It's a tough loan to use right now since there are a lot of restrictions with the program and on the home during sale. Same with FHA loans, mostly. At least in our market, sellers are choosing buyers with less restrictions since the home needs to be pretty much turnkey with USDA, whereas conventional loans will allow the seller to sell the home with certain things in place that they don't really want to pay to fix up. That "HUD 4000.1" thing she talks about -- that's it. With this, the homes needing to be turnkey, and the market as high as it is, a lot of the homes are also WAY above the area loan limit that the USDA set. If you want to buy something within those limits these days it's either not eligible under the 4000.1 or it's over the loan limit. So disheartening and a waste of our time (I was working on this for over a year).

@annetteericsson266 3 года назад

I had that loan. Lots of restrictions. No land and only parking for 2 cars. House has to be worth more than the land.etc etc. If you sell it they want ALL the profits to make up for the low interest rates they gave you!!!

@AndrewWaite 2 года назад

Can you elaborate on what you mean by they took all the profits?

@annetteericsson266 2 года назад

@@AndrewWaite I got a low interest rate on the loan. After I lived in the house for several years and then had to sell it had gained in value and I sold for more than I bought it for. USDA then charged me for the going interest rate retroactive and that was every penny I had left over after paying the realator fees

@jrwheeler81 2 года назад

What in the world are you talking about? We bought our first home 14 years ago with a USDA loan and we have just recently sold it and purchased a new home using USDA again. Once we paid off what was left of our mortgage, 100% of the profit from the sale of our home went directly to us. I have never heard of ANY of the restrictions you are referring to.....

@mrsknight2984 2 года назад

Thank you so much... you're the only one actually sharing ethical info

@wilfredopolanco4900 2 года назад

You have have given me life..and so many options with your info..alot of people don't have this information and are in this maze of life if that makes sense?!..anyway thank you for your information oxox

@l.e.phillips 3 года назад

Guuurl, I could kiss you for sharing all this info! 😭😭😭🙌❤️ A million thank yous!!!!

@jaesonhicks2225 3 года назад

Appreciate you really explaining these out, looking to build my farm.

@florinew.sorrels5820 3 года назад

@dsd5705 2 года назад

Didn’t know why I was still up…now I know! I was meant to watch this video. Will start to apply and if one lender says no I will know what to ask.

@olebloom1641 2 года назад

This loan would be great for remote workers not making the median US income. Great info.

@leerjet31 3 года назад

The issue with this loan is it's for low income families to buy more expensive houses and ends up bankrupting them bc you need a home so you get one based off their qualifications which is 120k + house when you need a 60-80k home but most of them don't meet the qualifications even tho they are completely livable

@jrwheeler81 2 года назад

Entirely false. My husband and I are not low income. We make over $100k/year between the two of us. We are right at the top of the maximum eligible income for our household size for USDA. We used USDA to purchase our first home 14 years ago. We have now sold that home and have just purchased a new home also using USDA.

@alfalion615 3 года назад

Great videos ive watched so many already, Was curious if you could give more information on how it would work if we used the usda loan to build a house and how if the land that you build it on is included In the loan or how that would work? 😀

@buggabee477 2 года назад

I would like to hear more about it, also.

@betsiebebop 3 года назад

Thank you for the thorough information! I'm wondering how a lender might count someone being on disability (SSI or SSDI) in their income guidelines etc?

@1southernitalian 3 года назад

It is counted as regular income, justice anyone else

@nancyingram966 2 года назад

Go to USDA directly. I did.... 17 years ago! It can be done, even on SSD!

@jrwheeler81 2 года назад

SSI is no different than employment income when buying a home. Income is income. As long as you can verify that you have a stable and reliable income to satisfy the mortgage payment each month, it doesn't matter where it comes from.....

@theandersons777 2 года назад

This might be great loan for some but there are faster and better ways for others. I have other options.

@Smarterhometechnology 2 года назад

This is great news! I've been hoping to buy a house this year but didn't know how i was going to. This may be my hope as a self-employed individual.

@justanotherchannelfornow2846 2 года назад

I'm sorry for being negative, but this program, while it might be good for some, I've been on it a few years and be very careful. Your statement can be misleading, and if you overpay, be sure you tell the agent responsible to apply it to your principal or it just sits there in unapplied balance going nowhere. You're right about the turnkey portion though, the home had to be perfect to be on the loan. Selling though becomes a big hassle because you end up re-paying back what they have subsidized into the payments all along, so you could end up backwards in the loan. If I sold now, that would happen to me since I'd completely lose my down payment and after I pay back what they have subsidized, I'd be less than what I paid for the home even with prices up nationwide. I"m stuck in a loan I can barely afford and no way and nowhere out of it. I can't even move into a smaller home becuase there just are not any on the market.

@anacastro-beard782 2 года назад

Hi! There are funds allocated through the American Rescue Plan, for current borrowers. You can request a covid moratorium, then refinance the home at current interest rates (as of today, it is 2.5%). Call your local servicing center for more information!

@mzruffin786 Год назад

You gave solid information. Wonderful Job!!! Your content was Amazing!!!

@b372 3 года назад

Thanks so much for this!! You answered so many questions for me.

@reupetersen7493 2 года назад

You are Outstanding in delivering the proper information to understand this program.

@stevehawkins7826 2 года назад

What does age do to this loan program I'm 72

@jrwheeler81 2 года назад

There is no age requirement......

@darkchocolategirl51 2 года назад

This is the best information on the USDA loan program. You made it simple, easy to understand the way information and you gave great details to the program. Thank you so much, you are super.

@nicodemus9105 Год назад

3 questions 1. What is the interest rate on one of these homes. 2. Why would it matter how much you make now especially if your moving to a small town to where you have no idea the work you might or can find, So obviously your income will no longer exist and with no for sure income how do they make that decision. 3. Since you will not have any income for sure, you don’t have any savings in your bank cause to much can disqualify You, how long do you have to make a first payment. How do you get more info to my questions?? Thanks

@mscapricorn7960 2 года назад

Thanks for posting this, I am a new subscriber! I am excited that the income limits increased for 2022! I do make commission and I’m praying it doesn’t disqualify me. Thanks for teaching and sharing such valuable info. I am hoping to become a homeowner this year, despite the crazy market!

@NicoleNark 2 года назад

You’ve got this Chameka!

@rebeccamckenzie2074 2 года назад

Great explanation! Thank you for the video. You mentioned that the USDA lender considers the household income, even if only one person in the household applies. Does the USDA require a credit report from other income-earning family members to view all the debtors or just the applicant's credit report?

@anacastro-beard782 2 года назад

Only in the case of community property states, will a spouse's credit impact the applicant. Other than that, only the debt of the applicant is considered. However, in that case, only the applicant is xonsidwfor repayment income.

@candelariab2887 2 года назад

@@anacastro-beard782 - well not in CA I was applying by myself and I was going to have a friend living with me and they wanted to know about all the adults living in the house credit score and income. But that was not the problem there was something else and that loan didn’t work out for me and im in my 60’s on SSDI

@Nanobits 2 года назад

Thank you for the information, i had a hard time finding someone that could explain this type of loan.

@billygraham5589 2 года назад

"... to have a home built..." Uhhhh, what if I want to build the home with my own two hands? Or MUST I have a licensed general contractor build the home for me? And it is just me, all by myself, that needs the house. I would like to buy a small ranch property, somewhere, down in the Corpus Christi TX area, possibly somewhere outside of Brownsville TX, OR, possibly in the Lompoc area of California.

@MDMEDIA18 2 года назад

Thank u thank u this has helped me a lot I haven't been able to get answers that I have been looking for for months now your amazing my sister is a loan officer and has not help me 1 bit. So I truly from the bottom of my heart thank u very much. Now I can make my dream come true moving to Colorado on a property with some acres and live my dream. Thank u again

@beatssokachiie5347 3 года назад

Love it! So much good information. This is the ultimate guide to understanding usda loans.

@NicoleNark 3 года назад

Glad it was helpful! 🙂

@Just_doing_kei 2 года назад

So informational and easy to understand...thx👍🏽

@antwanerobinson9578 3 года назад

Nicole first I wanted to say your AWESOME! very well spoken and understanding and wanted to say thank you for your content. Your making me want to move to Arkansas and build me a home so you can help me lol. But I had a question I’m looking to build me a custom home in the Spring Hill area from a custom builder or anywhere near there, but didn’t know what would rural area e considered there. Really it doesn’t have to be Springhill but anywhere outside of Tampa.. thanks

@NicoleNark 3 года назад

Thank you Antwane! Check out the area eligibility link in the description! There is a map where you can enter different addresses and see what areas may work for this loan! Hope that helps 😊

@thereckchanic4709 3 года назад

How do you go by getting started to buy a 10 acre farm to build a single home on?

@whitinggraham4459 3 года назад

Do you need any assistance?

@florinew.sorrels5820 3 года назад

First thing EXCELLENT!! Customer service 😊😊 I had the pleasure of working with Roy Brandon & Gina awesome people!! My credit score improved within one week!! Roy the owner is wonderful he absolutely knows what he is doing. I'm glad I'm in a better position credit wise but sad I to no longer work with this crew. They definitely helped me out a great deal!! And helped me become ready to buy my home. CREDITMASTERFIX🟡COM

@florinew.sorrels5820 3 года назад

@ThestuffthatSaralikes 3 года назад

I just discovered you. Thank you so much for all your videos-you break it down SO well...wish you were my agent.

@NicoleNark 3 года назад

Thanks for watching, Sara! Where are you trying to buy?

@florinew.sorrels5820 3 года назад

@skbmason 2 года назад

Anytime I see realtors talking loan guidelines, I cringe. This is not their speciality, it is the loan officer’s. Please go to a loan officer for this info and not a realtor. Loan Officers have the most recent and reliable information.

@jrwheeler81 2 года назад

Exactly!!!!!!! This video is providing false information. You absolutely DO NOT need to be a first-time buyer to use USDA! My husband and I have purchased two homes using USDA loans! We bought our first home 14 years ago, just recently sold that home, and bought a new home also using USDA. This is exactly why only loan officers should be providing this information!

@esoterical73 2 года назад

Fine and all, but with mortgage rates going up this is less exciting. A good down payment gets you a good head start to defeat interest. Interest ties you down for the full 30 years. If you buy a house for one half of what you could be approved for you might be able to pay it off in 10 years.

@CrunchyGreenWater 2 года назад

Very informative video, good to know about this option. Thank you!!!

@mariapuisis4029 3 года назад

Hi Nicole, great information of how USDA loans work and how are some things different when selecting lender outside of USDA and USDA. Thank you for the tips! I wish my husband and I can go through you buy a house.

@NicoleNark 3 года назад

You are welcome Maria! I am wishing you guys the best! 😊

@mariapuisis4029 3 года назад

@@NicoleNark thank you.

@darleneblake-murillo888 2 года назад

Thank you your advice is just what I needed!!! I had to subscribe❤️💛💃🏽🙏🦋

@usa5046 2 года назад

😇

@Wtf_jus_happened 2 года назад

Thank you so much for your knowledge and helping us! 🙏

@HowdyDe 3 года назад

If you were to buy land with the usda one time construction loan that price of land and house combined would equal the approval amount? An acre of land can be 40k but then a decent size for a family house would be minimum 200k so just checking

@tigress8336 3 года назад

Can you explain how I can build a home with a USDA loan

@florinew.sorrels5820 3 года назад

@shermainecraigwell2492 2 года назад

Clear and concise, thank you.

@ashleyramsey7206 3 года назад

Hey Nicole! When looking at the requirement of the home payment not exceeded 29% is that talking about the mortgage payment alone or the full monthly payment? (That would include Mortage ins, property taxes, etc) thank you! I appreciate your help always!

@NicoleNark 3 года назад

Great Question! The 29% is defined as total payment. So that needs to include principal, interest, taxes, insurance, HOA dues, etc!

@jadeitejunkie 2 года назад

Thank you for making this video. It really helped my husband and I out so much.

@cweathersby Год назад

Hit it out of the park yet again! God I wish you were in TX, I'd make you my agent asap lol. Thanks Nicole

@debratesterman9531 3 года назад

Thank you so much. This is a God answer for me today. God bless you

@marciayoung1094 2 года назад

Please help me get a grant loan . What do you have to have to qualify?? I'm a Grandma raising two grandchildren if you can help me I'll use you . Dreamer in NC

@robertmccuiston1535 3 года назад

Thank you Nicole for all of the valuable information. Moving to Nebraska soon and all the links you provided are very much appreciated. Love you Robert & Roger

@NicoleNark 3 года назад

Glad it was helpful!

@florinew.sorrels5820 3 года назад

@camipena1393 3 года назад

Thank you so much for sharing in a clear way!

@stephanief3506 2 года назад

With the cv19/unemplyoment issues the past few years, have affected my work history, I went back to work in Nov 2021, (self-employed) I my credit score is 770 with zero debt, & minimal expenses. I'm guessing collecting unemployment is frowned upon. May I ask when would you apply if you were in this situation? Thank you so much for sharing this was very easy to follow and you answered so many questions I had. Best regards:)

@nekilyablackmon1116 2 года назад

To be clear: No Down Payment does not mean no payment at all to get into your home, correct? There are still closing costs, appraisal fees, admin fees & so forth that the buyer must consider paying, right?

@annaclover5003 2 года назад

Yes. We had to pay for inspections and some of the closing costs but we left the the closing table with almost a 3k dollar check. Many sellers will pay that closing cost too. You just need to ask.

@dericdinh9926 2 года назад

no down payment doesn't mean pre-qualified. You still have to qualify with income. Good Luck in San Diego, CA.

@jerrygregory4613 2 года назад

Thanks for sharing this important vital information. You're amazing

@MLEPOS1 2 года назад

You can only make 115%of the area medium income; you go on to say that you can buy a more expensive home? How would you qualify?

@lequitagarrett3584 2 года назад

How long do you have to wait before you can sale a new build, or preexisting home purchased with a USDA loan?

@Gummybears13 2 года назад

Great question!

@jrwheeler81 2 года назад

You need to live in the home for at least a year before you can sell it.....

@TableTalkwTraceyMarie 2 года назад

This is amazing! Thank you for sharing this information! Truly appreciated!

@Kberrysal 2 года назад

Can use this to buy a farm

@bevfromnc6607 Год назад

How do you apply? Where do you get the applications from? You need to answer these questions.

@TownersMoments 2 года назад

Does this apply if you want to buy a few acres to build a homestead?

@mindysr 2 года назад

Wow! You are amazing. Thank you so much for this informative and insightful video!

@hedysmith3025 2 года назад

Tried to call got nowhere because the phone just kept re-routing. Not giving a valid order to touch a key that would actually get me to a person. Very annoying. So I wrote a letter to Curtis Johnson and I hope he receives it and reads it and responds to it. I really need help badly and willing to pay back whatever I get. USDA Rural Development is who I called in Indiana and Curtis Johnson is the name I was to call.

@abdulamdou1095 2 года назад

Good information sister. Stay always heathy ..i m looking to buy house this year

@NicoleNark 2 года назад

Thanks for watching! You've got this!

@libbylife7161 2 года назад

I need to look into this. I want to move to Arkansas. But have not looked for work yet.

@SammyDollxo 2 года назад

Thank you for breaking it down for us all! 👍

@NicoleNark Год назад

My pleasure!

@sa3757 2 года назад

Awesome information, appreciate it. Hope to find a realtor in my area that can help me secure a USDA loan. Finding the house might be a struggle

@carljeffrey82 2 года назад

thanks, and I like your style of laying info out there, easy. blessings

@NicoleNark 2 года назад

I appreciate that, Carl. Thanks for watching!

@deidreharris8363 3 года назад

Great information thank you. Do you know if Section 8 assistance can be used towards a purchase?

@WildandAwake 3 года назад

It does not, as it is dependent on you income/work which may fluctuate

@liltunish2126 2 года назад

Hey Nicole, do you know how i can find out if USDA in Georgia has funds yet?

@jennieher123 2 года назад

Is there a site of the USDA located?

@patriciamendez8622 3 года назад

Thank you very much appreciate this video. Well explained

@Aurea8787 2 года назад

No, it cannot be a mobile/manufactured home. It looks like it might cover a brand new manufactured though.

@lindachubbs1790 2 года назад

Thank you so much!!! Really appreciate your wisdom!

@NicoleNark Год назад

Glad it was helpful!

@deborahrobinson1800 2 года назад

I get social security could I qualify for a loan like this?

@annaclover5003 2 года назад

I get ssdi and a small Ltd payment.

@acro1427 3 года назад

Solid info, Nicole. The amount of data you provide on all of this is impressive! Props to you for these concise and informative videos. I'm definitely subscribing to your content👍 Keep it 💯! -Acro

@vockeiawright2070 2 года назад

I would love to get this loan

@uoohoo99 2 года назад

What about people on SSDI or retired for USDA loans?

@jrwheeler81 2 года назад

As long as you have two years worth of verifiable income, you should be fine....

@titanjake8640 2 года назад

Does the USDA loan look at student loans?? And how much of closing cost do they offer?

@jrwheeler81 2 года назад

All loan types look at your DTI (debt to income ratio), so, yes, they will definitely count your student loan when calculating your DTI to determine your eligibility.

@Ariel_valenzuelamusic 2 года назад

Very well explained,thank you.

@amazonraw-she-uh4439 3 года назад

Is a USDA loan unfavorable for lenders?? Seems like none of them want to offer it

@caitlinwilliams6674 2 года назад

It’s not unfavorable, they are just getting harder to do.

@jrwheeler81 2 года назад

@@caitlinwilliams6674 They are not getting harder to do. I'm not sure where you heard that. My husband and I have purchased two homes using USDA loans. We bought our first home 14 years ago and we just recently sold that home and purchased a new home with a USDA loan as well. MANY banks, credit unions, and mortgage companies offer USDA loans. They are extremely popular.

@onerandomvtuber7173 2 года назад

@@jrwheeler81 Did you go with the Direct route or the Guarantee Route?

@jrwheeler81 2 года назад

@@onerandomvtuber7173 Guaranteed. Direct is only for low-income borrowers.

@onerandomvtuber7173 2 года назад

@@jrwheeler81 I make about 50k a year, would that be good for Direct and would I have a higher approval amount with direct instead of Guaranteed? I have awesome credit as well

@loanauditscal 2 года назад

What about land? Can you use a USDA loan as a construction loan?

@ScrewMaga 2 года назад

Love your videos, however, it is sometimes very difficult to get what you are saying or keep watching because the music gets louder than your speech. Annoying.

@NicoleNark 2 года назад

Hey Chuck! I cut the music out of my newer videos! As I watched back some of these older ones, I felt the same way.

@jowpopper790 2 года назад

Sold my house and buyer used usda loan. Took 4 months for loan approval. Turned out office head at usda office was sitting on loan. Had to get my congressman involved to move loan on. This was a total nightmare. Never again.

@jrwheeler81 2 года назад

We never had that experience. We've used USDA twice. We bought our first home 14 years ago with a USDA loan and the process couldn't have gone any smoother. We just sold that home and purchased a new home, also using USDA, and we had the same great experience that we had 14 years ago. No problems at all. We used our credit union both times for our USDA loans.

@annaclover5003 2 года назад

It did not take long once we put our bid in for our house. But I personally had to keep tabs on the process. Their are time limits with usda as far as working towards closing. If those aren't met the loan will need to be rewritten.