Category: USDA

USDA has announced an increase in income limits, which means that more home buyers will qualify for the program. The USDA mortgage loan program has many advantages over other types of financing.  If you would like to explore those options, let’s talk! 

USDA has announced an increase in income limits, which means that more home buyers will qualify for the program. The USDA mortgage loan program has many advantages over other types of financing.  If you would like to explore those options, let’s talk! 

Related Article Title: USDA RD Increases Income Limits for 2020 Written by: David Hail, Staff Writer Income limits have increased for USDA 2020.  If you work with these types of loans you will need to read through this article and bookmark the new guides. Rule Synopsis: On May 5, 2020 USDA Rural Development published the […]

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USDA RD Increases Income Limits for 2020

Written by: David Hail, Staff Writer Income limits have increased for USDA 2020.  If you work with these types of loans you will need to read through this article and bookmark the new guides. Rule Synopsis: On May 5, 2020 USDA Rural Development published the 2020 Income Limits for the Single-Family Guaranteed Loan Program. The […]

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Requirements for Appraisal Updates After a Report is Finished

Question: When does an appraisal report need to be updated when there are only minor changes?  My previous company handled it differently than my present company, so I am confused! Answer:Fannie Mae & Freddie Mac:  There is not technically something in the selling guides that states word for word that you must update XYZ when […]

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USDA Covid-19 Guideline Updates – Appraisals – Repair Inspections & Employment Verification

USDA posted an announcement on April 8th 2020 addressing flexibility and guidance during the Covid-19 pandemic. The announcement is addressing similar issues to the other agencies such as appraisals and employment verifications, so just like the other agency announcements we recommend that you review them in their entirety if these programs are a large part […]

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USDA Identity of Interest

Question: Does USDA have guidelines on Identity of Interest? Answer: USDA has no specific regulations with regard to identity of interest. It’s a zero-down loan and since the seller can contribute up to 6% of closing costs, identity of interest is not an issue as in the case of an FHA loan. [Article Published in […]

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