USDA Home Loans and Home Inspections Don’t Mesh

Many home buyers get a home inspection prior to purchasing. We think that's a great idea, but recently, we've run into some last minute problems that you should be aware of if you are using USDA Home Loan Financing! A monster problem that we are starting to run into is that if the investor, Chase for example, knows that there is a home … [Read more...]

USDA Home Loans, When Do You Need An Inspection

USDA, Rurual Development recently issued an announcement clarifying when they need all of the new construction documents for homes... and when they don't. If the home is less than 1 year old and has never been occupied, the home is considered a new home purchase.  New home purchases are subject to plan certification, specifications, inspections and … [Read more...]

USDA Appraisal Requirement Change July 1, 2009

Beginning July 1, 2009 USDA is requiring the updated Freddie Mac/ Fannie Mae appraisal in their packages.  As with any change, there are some potential drawbacks. USDA home loans are made in genearlly rural areas.  The new Freddie/Fannie appraisal is designed specifically to identify for the underwriter any recent changes (read DECLINING changes) … [Read more...]