Category: USDA

If you work in the Marijuana/Cannabis Industry and are a W-2 employee, there are home financing programs available.  However, the Federal programs such as FHA, VA and USDA will not consider your income because of the illegality at the Federal level, despite what the state legalizes.  If you work in this industry, let’s talk and I’ll help your find the right program!

Related Article Title: Will Government Agencies Allow Marijuana Income? Question: Do any of the Government loans (FHA, USDA and VA) allow the use of W-2 income from a Borrower who works at a Marijuana company? This person is not a grower or distributor and all of their income is derived from W-2 income. Answer: As […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA Condominium Approvals

Question: How does USDA handle approving condominiums for financing? Answer: USDA simply states that the condominium project must be in compliance with HUD/FHA, VA, Fannie Mae, or Freddie Mac regulations. They leave it up to the lender to make that determination and provide that certification. Reference: USDA Condo Guidelines – HB-1-3555 Chapter 5 Supporting Resource: […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Will Government Agencies Allow Marijuana Income?

Question: Do any of the Government loans (FHA, USDA and VA) allow the use of W-2 income from a Borrower who works at a Marijuana company? This person is not a grower or distributor and all of their income is derived from W-2 income. Answer: As government entities, FHA, VA and USDA currently will not […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA Rural Development will begin charging a new “Technology Fee”

Written by: David Hail, Staff Writer There are more fees to disclose on USDA loans so read through this article to find out what needs to be disclosed and when. Rule Synopsis: On November 8, 2019 USDA Rural Development announced that they will be collecting a new “Technology Fee” from Lenders effective January 1, 2020. […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

USDA Rural Development Revises Data Tolerances

Written by: David Hail, Staff Writer This is an important change to the USDA program that all USDA lenders need to read. Rule Synopsis: On October 4, 2019 USDA Rural Development issued Procedure Notice 529, which revised tolerance threshold on a borrower’s monthly debts as outlined in HB-1-3555, Chapter 5, “Origination and Underwriting Review.”  We […]

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.

Scroll to Top