USDA Home Loan Environmental Requirements

We've recently run into a series of people purchasing homes in NC with Underground Oil Tanks.  If you are applying for a USDA Home Loan (or any other Government Mortgage Program, frankly) this can be a problem. The USDA Home Loan Handbook has this to say about Environment Requirements and Petroleum Tanks: The Agency must consider the management … [Read more...]

USDA Home Loan Qualifying Requirements in NC

Although the program has been around for a long time - many people are just now hearing about the USDA Home Loan program that offers No Money Down Home Loans in North Carolina! Sweet! Best news is... it doesn't have to be a FARM!  Over one third of the first time homebuyers recently surveyed said, "We'd love to buy a house, but we don't have … [Read more...]

USDA Loan Frequently Asked Questions

Most loan officers are not familiar with the USDA Loan Program - which is a shame, because it's one of the best No Money Down Home Loans available in NC! We get "Rural" really fast in NC... one minute you're in a neighborhood - the next you can wake up to the sound of Roosters! If you're interested in living in a home with a larger lot - and … [Read more...]

Comparing No Money Down Home Loans in NC

There are MANY  No Money Down Home Loan Options available to buyers in North Carolina.  This No Money Down Home Loan information is accurate as of today. If you get No Money Down Home Loan Information somewhere else, it may be inaccurate or out-of-date. What ARE the No Money Down Home Loan Programs? The No Money Down Home Loans are special mortgage … [Read more...]

USDA Home Loan Requirements in North Carolina

In North Carolina, we are lucky that that are so many places to live where you can have a white picket fence, or an outbuilding... not everybody wants to live in a cookie cutter neighborhood!  The good news is that for most of those "less urban / more rural" parts of NC, you can buy a house with no money down, using the USDA RD Home Loan … [Read more...]

USDA Home Loan Underwriting Updates

USDA is quickly becoming one of the Country's most popular mortgage loan programs, and with that, the USDA Rural Development Offices are getting backlogged!  In the past 2 months, NC went to a "Centralized" Underwriting Process for these loans... and we are sometimes seeing 2 week turn times with USDA Underwriting, and sometime a little longer. … [Read more...]

USDA Home Loan Changes In NC Coming

This state has grown Soooo much, that when the 2010 Census maps were drawn up, and analyzed, it showed that 21 Communities in NC was scheduled to lose the opportunity to get mortgage loans approved using the USDA Home Loan Program starting October 1, 2012.  Congress passed the Senate USDA Appropriations bill, S.2375 which included a grandfathering … [Read more...]

USDA No Money Down Mortgage

We've helped many customers buy homes with an old program offered through the USDA... not to buy farms... HOMES. The Rurual Economic Development Fund is what it use to be called, now it's just a part of the USDA RD Home Loan Program, and the goal is to provide mortgages, and incentives for folks to purchase homes in less "densly" populated … [Read more...]

“Compensating Factors” For USDA Home Loan Approval

At the very end of the USDA RD Home Loan Underwriting Guidelines there's a section that's titled "Compensating Factors."  This brief section is for the situation where a borrower is just outside the guidelines to qualify for a USDA Home Loan, meaning  someone with housing and debt ratios higher than 29/41. We've seen folks who have income we can't … [Read more...]

Buying A Horse Farm In NC

Several of the agents we work with currently have listings for horse farms in North Carolina.  Financing these properties can offer unique challenges. Our daughter rides, and so we understand the unique challenges of finding the right "home" (barn). When you're financing a farm, the first thing we need to know is if this is going to be income … [Read more...]