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USDA Construction Loan Requirements 2024 Full Guide! 

Nicole Nark
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The USDA Construction Loan allows for eligible individuals to finance a home build with ZERO down payment! In this video, home buyers will learn how to apply for the USDA construction to permanent loan, what the requirements are how the building process works!
🏠 USDA Construction Loan Lenders: www.rd.usda.go...
🏠 USDA Eligible Areas: eligibility.sc...
🏠 USDA Income Limits in Your Area: www.rd.usda.go...
✅ Get connected with an AGENT in your city: homeandmoney.c...
Plan your move by contacting Nicole:
Contact Form: narkhomes.com/...
NicoleNarkRealtor@gmail.com
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Follow my journey as a Little Rock Realtor here:
/ nicolenark
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Looking to Buy or Sell a home in Arkansas? Check out:
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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.
Learn more about me and the services I provide here:
narkhomes.com/...
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Disclaimer: The topics discussed, and ideas presented are Nicole Nark's opinions and presented for entertainment purposes only. Nicole Nark is a licensed Realtor with HomeWay Realty, but she is not advising or representing you in these videos. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

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26 сен 2024

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Комментарии : 189   
@JosephMbidi
@JosephMbidi Год назад
I love this program. I do have this program. My mortgage monthly $450. as I have a nice credit score 895. I have 4 bedrooms single family houses. Thanks god
@NicoleNark
@NicoleNark Год назад
That is awesome!
@jinnyrichards1357
@jinnyrichards1357 Год назад
So you actually used usda and found a contractor?
@clpnetwork522
@clpnetwork522 4 месяца назад
Nice!!!!👍🏾
@clpnetwork522
@clpnetwork522 4 месяца назад
Beautiful! Was it hard finding a USDA contractor?
@malachibergman902
@malachibergman902 3 месяца назад
This is a joke. Credit score goes up to 850 😂
@juliacassidy
@juliacassidy Год назад
This video has been more helpful than all the articles I’ve read and all the lenders/realtors I’ve asked about this loan combined!
@NicoleNark
@NicoleNark Год назад
So happy to hear that you found it helpful! 🥰
@davep2945
@davep2945 Год назад
The USDA program is great in theory but in practice extremely difficult to use. I live in a good area for construction with dozens and dozens of builders and banks as well as mortgage specific institutions. NONE of the lenders in the area work with the USDA loan. I had to go to an online lender. Then, as she stated, finding a builder who was willing to work within USDA guidelines was difficult. And then, of course, that builder took on more work than they could do because they were tying to squeeze every dollar they could out of the freak market that was 2020 into middle 2022. So, they more than tripled their original estimate between our first consultation and their final bid. Well, that ended things real quick. So, more than a year later I'm starting the process again. Lenders and builders had it good for several years and got used to a run of success they foolishly thought would last forever. Builders are more receptive to working with the USDA program than they were a year ago when they couldn't keep track of all the requests to build but they are still way overpriced. And I am back to the same online mortgage company because no one in my area seems to have gotten the message that the good times are winding down and it might be a good idea to expand your lending options.
@lizbethdiehl318
@lizbethdiehl318 Год назад
Which online lender are you using?
@travistint1277
@travistint1277 Год назад
which online lender did you find
@MM-pn8ho
@MM-pn8ho 19 дней назад
What is the name of your online lender?
@ashabrewer9960
@ashabrewer9960 2 года назад
Thank you Ms. Nark! You provide such important and detailed information. Plus, you've helped me get closer to my dream of building my home. After 3 years of intense looking, I've found a property that is exactly what I wanted. I will live on my 5-acre property in my beautiful custom-built house by next year, if not sooner. Now I'm just hoping for a miracle because I would love for one of those companies that print 3D houses to reach out to me. Thank you for doing what you do!
@peterb.houtman1012
@peterb.houtman1012 Год назад
Would like to hear about the VA CTP loan process. Thanks for the great info
@daniellemcmillan2108
@daniellemcmillan2108 Год назад
We are in the same boat. We found that the interest rate on a construction to permanent was at 7.5% (VA doesn't offer a construction loan they just take over the loan after the construction is completed). Hope this helps a little.
@p2pportal
@p2pportal 2 года назад
Guys, the reality is, like most things, your success will be directly correlated to YOUR efforts, YOUR drive and tenacity, YOUR resolve to not take NO for AN ANSWER, and ur ability to pursue workarounds when roadblocks occur. But all of what u are hearing here IS TRUE IS POSSIBLE, but understand there will be frustration. But any hiccups just make the end game that much more satisfying once u cross that finish line, oops I mean “threshold”, into your new crib!
@authorauthority7193
@authorauthority7193 Год назад
Magical thinking, most small businesses fail and its not because they are unmotivated. Its just a festure of capitalism.
@ToOpen6seven
@ToOpen6seven 3 месяца назад
FACTS! I had a USDA loan like this one!
@nah6730
@nah6730 2 месяца назад
Stop yelling at me
@jessicapowell4584
@jessicapowell4584 2 года назад
How do we go about applying for the construction loan? Do we have to buy the property first? Or can we buy the land with a construction loan and roll it into a mortgage? Also any tips for help with closing costs and blueprints?
@JosephMbidi
@JosephMbidi Год назад
No. They have to find the area for you as mine have this program NC. My mortgage monthly $500 as I have a nice credit score 867. I have 4 bedrooms.
@ketinathompson4680
@ketinathompson4680 2 года назад
Thank you, Nicole! This is exactly what I was looking for this information. I live in the area where United Home Built is a home builder company
@NicoleNark
@NicoleNark 2 года назад
Glad it was helpful!
@justaninja1
@justaninja1 Год назад
Does USDA do multi family if you live in one of the units?
@islandbound843
@islandbound843 8 месяцев назад
Thank you for this. This is so helpful. This information is pretty tough to come by in general
@NicoleNark
@NicoleNark 8 месяцев назад
Glad it was helpful!
@EC-um2kh
@EC-um2kh 2 года назад
how long do you have to live in home , In case you need to sell?
@NevaJWilson25462
@NevaJWilson25462 2 года назад
When I'm figuring on the calculator can I use the gross up for SSDI.
@authorauthority7193
@authorauthority7193 Год назад
I love your channel, thank you for making these videos.
@NicoleNark
@NicoleNark Год назад
Thank you for being here! I appreciate you and it makes my day knowing that my videos are helpful! 😊
@arcatacompany
@arcatacompany Год назад
Barndiminium" love it,never heard that name but I know exactly what your saying and just saw a nice place that was a barndiminium
@mariagomes9882
@mariagomes9882 2 года назад
Excellent information! I am buying a lot right now and these are valuable info for me. Thank you
@NicoleNark
@NicoleNark Год назад
Glad it was helpful!
@elizabethchapman1980
@elizabethchapman1980 7 месяцев назад
Thank you so much! I’d been searching for someone to break this down. Really appreciate you taking the time ❤
@NicoleNark
@NicoleNark 7 месяцев назад
Glad it was helpful!
@1nesymphony
@1nesymphony 2 года назад
Thank you for always sharing valuable information on your platform, greatly appreciated
@Daveortiz693
@Daveortiz693 2 месяца назад
Good information, thanks for the comprehensive video!
@iyabomarvel8506
@iyabomarvel8506 Год назад
@NicoleNark Thankyou for your videos. Downloaded your list of lenders and found one in my state and town!! Called yesterday and already starting the application process. Thankyou so much for all that you do
@NicoleNark
@NicoleNark Год назад
Woohoo! So happy to hear that the video brought you some value and helped you get started! ☺️
@RAIBACH-l6l
@RAIBACH-l6l 21 день назад
I would like to make an arrangement with the seller in a letter of intent to purchase, to allow me some time to secure financing. I'm not interested in getting lower price necessarily. The negotiations are about time, and for this uncommon place, time is money. I have to find a USDA approved Builder, I have to get some stuff before I know if USDA will guarantee the loan or if a bank will finance it. I want 30 days to work this uncommon situation out, without the fear of a cash buyer coming in while I'm working on it. And I want to do this with a Letter of intent to purchase. With a “no shop” clause to prevent the seller from finding another buy in the middle of the process.Only because a LOI is non-binding traditionally.
@MyFullFiguredLife
@MyFullFiguredLife Год назад
Thanx for this.
@NicoleNark
@NicoleNark Год назад
Thank you for watching!
@khalidqatash2525
@khalidqatash2525 Год назад
Great information. Thanks for the hard work.
@NicoleNark
@NicoleNark Год назад
Thanks for watching!
@the4evrQueen
@the4evrQueen Год назад
OMG you already made it! TY
@NicoleNark
@NicoleNark Год назад
Absolutely!!
@joettssouder3841
@joettssouder3841 Год назад
Please please tell me how to do this
@1nesymphony
@1nesymphony 2 года назад
Thanks!
@NicoleNark
@NicoleNark 2 года назад
Thank you for supporting my channel! 💕
@CristianM4252
@CristianM4252 Год назад
I have not found a lender that offers 0 down . The lowest I’ve found was 15-20% down.
@rms-vp6hf
@rms-vp6hf Год назад
It isn’t a loan. It is a “guarantee” from the government they will pay if you don’t. The Federal Government is basically co-signing for you on the riskiest form of RE lending. You still have to find an actual lender who have the by-laws etc to do it. It isn’t a slam dunk sadly. Know the program, any CFRs involved and the proposed lender’s criteria for FHA/VA/USDA so when they say “no, because…” you can counter with why it has to be “Yes”. If you meet the criteria and they say no it’s discriminatory. That’s why the criteria are so specific.
@GermanShepherdForever
@GermanShepherdForever Год назад
Good information Nicole.
@NicoleNark
@NicoleNark Год назад
Glad it was helpful!
@tclodfelter8789
@tclodfelter8789 Год назад
So if you're D/I ratio is BELOW 41%... BUT your income is over their max for "moderate" income...you CAN'T USE the USDA home build loan!!??
@fabiennegoydadin9046
@fabiennegoydadin9046 2 года назад
Very informative! Just subscribed! Thanks :)
@NicoleNark
@NicoleNark Год назад
Thanks for the sub!
@diegob5608
@diegob5608 2 года назад
You are amazing 👏Thank you
@Steve-zr1tt
@Steve-zr1tt 2 года назад
Anyone watching use this construction loan? I have scanned allover the area and the only thing available in the rural areas are empty lots or lots with trailer. I am interested in this loan for the purpose of construction being I would not buy a lot with a trailer on it… I imagine this will be very hard to find a contractor with this loan…
@deniseflores6894
@deniseflores6894 Год назад
And is it a better choice for 1st time buyer
@tomekialloyd8221
@tomekialloyd8221 2 года назад
Thank you so much! Good stuff.
@kertonniapetty-miliken4834
@kertonniapetty-miliken4834 2 года назад
I think is an interesting program and yes if you would break then down a little more please.
@SportBikePC
@SportBikePC Год назад
Just found a lender for this in NJ .. already submitted our app. Our builder we chose has been around for decades, so hoping he won’t have an issue taking on our job if approved…. We already own our land outright, but the house cost is pretty high .. thanks for the video I feel even more confident now!
@cnigeldgriff6283
@cnigeldgriff6283 Год назад
Hello I’m in NJ. Can you provide the builder info?
@milkdiamond1490
@milkdiamond1490 Год назад
Same here @Sport Bike Powder Coating. I am also in NJ and looking at this. If you wouldn't mind, kindly share the lender and builder you used. Thank you!
@jovanturner3670
@jovanturner3670 Год назад
how is your application going?
@SportBikePC
@SportBikePC Год назад
@@jovanturner3670 I didn’t go through with it, as the lender kept trying to get me to do a different loan with no explanation so we stopped it and walked on that option..
@jovanturner3670
@jovanturner3670 Год назад
@@SportBikePC sorry to hear that, do you know what lender you were working with? I am NJ licensed and have an investor that will process and underwrite USDA Loans
@yencymartinez4138
@yencymartinez4138 2 года назад
Great information! Thank you
@NicoleNark
@NicoleNark Год назад
You bet!
@TheNyn8tiv3
@TheNyn8tiv3 3 месяца назад
Can you build a multi with this loan?
@medetk1166
@medetk1166 5 дней назад
What would be the APR for usada loan?
@Dabeast2004
@Dabeast2004 Год назад
What if you already own property that is paid off? Will this loan route work?
@amandamedina2296
@amandamedina2296 11 месяцев назад
Ok you are awesome!!! Arkansas person here!! And I’m learning so much!! Where in Arkansas?
@NicoleNark
@NicoleNark 11 месяцев назад
Woohoo! This loan can be used SO many places in Arkansas. As a general rule of thumb, most cities with less than 30,000 people will qualify. Please reach out to me via my contact form with any additional questions, I’d love to help!
@thecowboyofrealestate
@thecowboyofrealestate 22 дня назад
Hey sis! Love your content! I'm an agent in Illinois. Trying to find a lender that does this loan in my state. Thanks!
@lyndsipratthorsemanship
@lyndsipratthorsemanship Год назад
Hi Nicole, thank you for this information. Got a question for you or anyone who knows. We have our eye on a rural property which has utilities and an unfinished cabin - it is livable, but would need interior finished and also the well repaired. Do you think this could qualify for the USDA construction loan, or is that for new builds only. It is sounding like it would not qualify for the other USDA loans since the house is unfinished. Thank you.
@shannonkelly5138
@shannonkelly5138 11 месяцев назад
yaya
@lgsupport440
@lgsupport440 2 года назад
Nice video Mrs
@Saminthefloof
@Saminthefloof Год назад
I have a huge question and I'm praying that you can help answer it! What if I was gifted a piece of raw land on (from) my family's property of 1 acre and we already know that it's zoned already for residential and permitted already to build on. I also meet the requirements for a USDA. How would I go about getting an address for this acre for the lending? Would I just use my family's address since the acre is part of their property?
@pharoahsghost2868
@pharoahsghost2868 21 день назад
can this program be used on heir property?
@DeannaMaurice
@DeannaMaurice 2 года назад
Yahhhh thank you 😊
@kbinco
@kbinco Год назад
Love your videos Nicole. I currently live in South Dakota but looking for a possible move to Fayetteville. I recently received a newcomers guide to that area. I am by myself looking for a one bedroom apartment, do you work with people looking for apartments? Thank you in advance...
@nickformato6838
@nickformato6838 Год назад
Hi Nicole. Thank you so much for this video. Can I get approved for a USDA construction loan with a pre-fab home?
@latonyalee7821
@latonyalee7821 7 месяцев назад
You can for a modular and manufactured (mobile) home. Does Pre-fab fall into one of these categories? If so, yes.
@Homesteadhappyhour
@Homesteadhappyhour 2 года назад
Has anyone successfully completed one of these?
@DaleHiggins-m4c
@DaleHiggins-m4c 8 месяцев назад
I need to build a handicap accesible home it is nearly immposible to find one already built
@bdunk3403
@bdunk3403 2 года назад
I just bought land, can the land be put into the usda loan? otherwise I would be over the 41%
@JohnDavidWright-xs3ys
@JohnDavidWright-xs3ys Месяц назад
Can this loan be used to build a fourplex(one unit would be for me)?
@errndog
@errndog Год назад
Wondering if I could use this for a barndominium?
@NicoleNark
@NicoleNark Год назад
Great question! From my understanding USDA prefers stick built homes to those with a metal shell. Depending on how you plan on constructing the home, it might work!
@lla77
@lla77 2 года назад
Love your work. Can you please do a updated video on Fha requirements with the down payment assistance programs that are offered and those requirements. Ive heard that there is Chenoa and the new 10 % down program what could they cover in cost
@1027jmorris
@1027jmorris Год назад
Hi @nicolenark! Thanks so much for making this video. I am concerned about student loans debt. If I applied with another person but used my income, would it work for us?
@NicoleNark
@NicoleNark Год назад
Great question! When you apply with another person, the income, debts and credit scores of both individuals will be considered. There’s no way to use the income of one person but the credit score of the other for example. If you want more of a breakdown, check out my recent Debt To Income ratio video! It will help you learn how lenders will view your finances!
@latonyalee7821
@latonyalee7821 7 месяцев назад
If you are paying your student loan, the lender uses your payment amount. If you are in deferment or forbearance and not paying, they use 1% of your total balance as the monthly payment. Example, if you owe $40,000 in student loans, the lender factors a payment of $400.00 in your debt-to-loan ratio. However, if you are paying a fixed amount of $125.00, they would use $125.00 in your debt-to-loan ratio. It's best to get your payment as low as possible for at least a year before you apply. Two years is even better. I'm speaking from my experience with my credit union only.
@debrock42
@debrock42 2 года назад
Great info...thnx for sharing. What about Charlotte, NC...can you advise?
@p2pportal
@p2pportal 2 года назад
Start with the eligibility map to fine an area around Charlotte. Link is included in video notes. Best on desktop but mobile is ok too. Drag map around look for areas that are highlighted(orangeish color?) those areas are eligible. Then look up “usda approved contractors for construction loans.” Look specifically for the state you are looking to build in. UNITED HOME BUILDERS is a big one I know of
@Boujieboss
@Boujieboss Год назад
I want this loan .
@jaxg8rchick167
@jaxg8rchick167 Год назад
Have you done a video on where to even being with all this? I have no clue do you call contractors do you call realtors do you call lending companies or the government to utilize the process I have no clue where to start . Please help I'm in Florida
@joannhargrove8838
@joannhargrove8838 Год назад
Do is construction builder and USDA Rural Development in Franklin County, NC (list construction built)?
@clintforest44
@clintforest44 Год назад
Try reading your comment out loud. I've read it 10 times and can't figure out what you're talking about... It's kind of rude.
@DaleHiggins-m4c
@DaleHiggins-m4c 8 месяцев назад
Have you ever seen a construction to perm loan. Others say it just dont happen
@NicoleNark
@NicoleNark 8 месяцев назад
Construction to perm loans I have seen many times. The USDA construction loan specifically I have not seen anyone use.
@applejack2911
@applejack2911 2 года назад
What credit score would you need? Would a 626 score be ok, with 2 years on time rental payments?
@anabhousen7159
@anabhousen7159 Год назад
I doubt it. I applied years ago with a 650 score and got rejected. I'm now applying again with a 770 score and I'm still having issues getting approved. Good luck
@ananunez5478
@ananunez5478 Год назад
You should apply anyways
@Hemidakota
@Hemidakota Год назад
What about buying land and building a new home?
@johnwilliams3237
@johnwilliams3237 Год назад
This loan doesn’t cover land you have to already own the land
@ericka11051
@ericka11051 5 месяцев назад
Good video! Quick question, I have 7 acres and want to build on only 1 acre yo later do a business on the other is that possible and be eligible to do still get this loan, the land is eligible for usda
@AbdullahTech
@AbdullahTech Год назад
I don't think you mentioned modular homes
@MrChappey711
@MrChappey711 Год назад
can i use USDA for a manufactured home?
@CMIC
@CMIC 8 месяцев назад
Yes
@Skateboardshopusa
@Skateboardshopusa Год назад
Would this also apply for a remodel. A home that needs repairs at purchase
@IneffableK
@IneffableK Год назад
What if we already have land? What if it's not legally ours? Like, we will live on property near family??
@louisflores9643
@louisflores9643 Год назад
We have a 5 acre property in SE, NM. I want to build a small warehouse to store all the things my sister wants to keep. Then I want to have a standing home demolished & put down a foundation for a Modular Built home 3 bdrm, 2 ba + 2 car AG, 1700 sf., I think I can get one made for $250K or less. Do you know which Modular builders deliver in NM. I think there is a showroom in Carlsbad, NM.
@powerassata
@powerassata 10 месяцев назад
What if you have money left over after your home us built, do you return it to the bsnk or is it yours to keep and pay back?
@samanthagray4859
@samanthagray4859 Год назад
Do you ever have time to meet one on one? Thank you so much!
@deniseflores6894
@deniseflores6894 Год назад
Hi which is better to get a usda construction loan or update loan to buy a house
@tiffanygurney1780
@tiffanygurney1780 Год назад
Nicole, I looked at the lender link and do not see my State in there. I live in Maine do you know if there are any lenders in my area!??
@amandamedina2296
@amandamedina2296 8 месяцев назад
Can you use a USDA Construction Loan and convert it to a VA loan at the end of completion of the home?
@tonyavirges1155
@tonyavirges1155 5 месяцев назад
Hey Ni old Indiana area lended. Fort wayne ind2j
@benbohannon
@benbohannon 10 месяцев назад
AKA the chicken and the egg loan program.
@questpropertiesllc4952
@questpropertiesllc4952 Год назад
HI NICOLE,SO DOES A USDA DIRECT APPLICANT NOT QUALIFY FOR USDA CONSTRUCTION LOAN ? THANKS
@graftedinthruYahusha
@graftedinthruYahusha 10 месяцев назад
Curious as well
@gripboy5042
@gripboy5042 2 года назад
Do the income limit counts overtime or just base pay?
@VictoriaLussier-eg2ig
@VictoriaLussier-eg2ig Год назад
it is on your tax returns
@PoetandProfessor
@PoetandProfessor Год назад
Is skoda construction an approved builder/contractor?
@milesdyson5211
@milesdyson5211 2 месяца назад
Is there a MAP of some type for my state to qualify for rural areas ?
@opx4real
@opx4real Месяц назад
In the description.
@hlgrmdr9556
@hlgrmdr9556 Год назад
this sounds impossible
@kikitootsie
@kikitootsie 9 месяцев назад
How does a contractor become a USDA approved contractor? I know you listed the requirements but where is the actual website to apply?
@latonyalee7821
@latonyalee7821 7 месяцев назад
You can google USDA approved contractors and find one in the area where you want to build. That's what I did. Good Luck!
@tessabaty7909
@tessabaty7909 5 месяцев назад
would this include or exclude the land to build on as well or would you need a separate loan for the land?
@ToOpen6seven
@ToOpen6seven 3 месяца назад
In NC yes as long as the total is not over the loan amount 3!
@jeanettealicepaine9676
@jeanettealicepaine9676 2 месяца назад
PLEASE PLEASE HELP ME GET INTO A HOME!!
@kingtt6275
@kingtt6275 Год назад
Does this loan applies to a Modular built home to ? I know there’s two types of homes that can be built
@CMIC
@CMIC 8 месяцев назад
Yes
@david88va
@david88va Год назад
I thought that you had to own the land already, not that the program includes the purchase of the actual land itself
@NicoleNark
@NicoleNark Год назад
Nope!
@CeciliaDodds
@CeciliaDodds Год назад
WE WANT TO IMMIGRATE TO THE USA BUT WE WANT TO LIVE IN OUR CONTAINERS, HOW DO I DO THAT
@chillbillch
@chillbillch Год назад
Does this include the price of the land?
@coryindigorue869
@coryindigorue869 Год назад
Hylands, FL micro farm
@derek9285
@derek9285 16 дней назад
This is for people with less money! lol if you had plenty of cash then just do a conventional. The whole point is for less wealthy people to buy in rural areas with a zero to very low down payment. Also the mortgage insurance is much less.
@NicoleNark
@NicoleNark 16 дней назад
Absolutely!
@BruceMcKeever
@BruceMcKeever Год назад
Does this loan allow up to a four unit complex like the FHA does?
@NicoleNark
@NicoleNark Год назад
Nope, only single family.
@Tearial311
@Tearial311 11 месяцев назад
I think working with a USDA contractor would be expensive
@vkriese56
@vkriese56 2 года назад
What if you’ve had a bankruptcy in the last year… Will that not qualify for USDA loan?
@NicoleNark
@NicoleNark 2 года назад
It needs to be at least 2 years after your bankruptcy was dismissed before you can qualify.
@Bladerunner55217
@Bladerunner55217 2 года назад
Remember USDA Reimburses you. You have to have the capital. I just got off the phone with them. Took 3 weeks to get a hold of them via phone
@luperamos7307
@luperamos7307 2 года назад
Reimburses you for what?
@Bladerunner55217
@Bladerunner55217 2 года назад
@@luperamos7307 reimburse you because your the one that has to finances everything. Meaning the government isn’t just giving out money for anybody to get land and build! Meaning all these videos on it is completely wrong. I’m in California and what I’m saying is very true in California. Now maybe in idaho somewhere next to a bear cave your application might get approved but you still have to finance it.
@luperamos7307
@luperamos7307 2 года назад
@@Bladerunner55217 I'm in California also and completely priced out at this point. Where are you building and how much do you have to put down if you don't mind me asking?
@Bladerunner55217
@Bladerunner55217 2 года назад
@@luperamos7307 I listened to this video that says zero down and many other videos on many other platforms so I tried to apply with zero down. So like I said the USDA rep said the program is a reimbursement program. You have to come up with all the money. So if I wanted to put an amount down to make it happen I’d have to do a standard loan which USDA offers but this rural construction loan is not gonna work for me.
@DAY2DAYY
@DAY2DAYY Год назад
@@Bladerunner55217 so do you finance the build and the land . Then the government sends a check once completed
@1975gucci
@1975gucci Год назад
How long does it take to qualify for a usda loan after bankruptcy?
@KallMeKarma89
@KallMeKarma89 Год назад
3 years after bankruptcy discharge
@IrisEstrada-lc7gr
@IrisEstrada-lc7gr Год назад
We are interested in this loan but my husband makes 100k and I make 70k, would he be able to get approved by himself? If so how much would he be able to get approved for? Most bids right now are 500k plus, how would that work to get approved?
@NicoleNark
@NicoleNark Год назад
Keep in mind even if he is the sole applicant that USDA looks at household income. All household members income would be taken into consideration even if they are not on the loan.
@DAY2DAYY
@DAY2DAYY Год назад
Ask your job to put your 1/2 of income in a 401k. Until approved. Or ask for a salary reduction until approved.
@shannonwiles4094
@shannonwiles4094 2 года назад
Sounds like more trouble than it’s worth
@malyism1
@malyism1 Год назад
Is the income limits gross or after taxes?
@zea3647
@zea3647 Год назад
Gross
@ndayembidi6781
@ndayembidi6781 Год назад
Yes
@tonyavirges1155
@tonyavirges1155 5 месяцев назад
where in indiana do they do the construction loan?
@fitpro25
@fitpro25 Год назад
You offer personal assistance?
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