Tag: USDA

Under the USDA-RD Program, a manufactured home can be financed as long as it was built in 2006 or after. This is a great program offered to clients who qualify, as it does not require the down payment restrictions of other programs.  Sound interesting?  PM me and let’s talk.

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Under the USDA-RD Program, a manufactured home can be financed as long as it was built in 2006 or after. This is a great program offered to clients who qualify, as it does not require the down payment restrictions of other programs.  Sound interesting?  PM me and let’s talk.

Related Article Title: Age of Property Eligible for USDA Manufactured Financing Question: My client is interested in purchasing a manufactured home with USDA-RD financing.  It was built in 2012 and the guidelines state that anything newer than 2006 is acceptable.  Another lender is telling the listing agent that USDA only accepts new construction.  Who is […]

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Interesting Fact! Did you know that lenders consider a timeshare an installment loan and not a mortgage loan?  That can be an important detail if you have run into an issue with a timeshare.  Need more details?  PM me and let’s chat!

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Interesting Fact! Did you know that lenders consider a timeshare an installment loan and not a mortgage loan?  That can be an important detail if you have run into an issue with a timeshare.  Need more details?  PM me and let’s chat!

Related Article Title: Timeshare Derogatory Credit Issue Question: How is adverse credit on a timeshare viewed by Fannie Mae, FHA and USDA? Answer: Fannie Mae Says If you have no feedback requirements that require you to provide additional information, you should be okay, as long as you have an Approve/Eligible response. Of course, it is […]

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Income Required to be Used for a Separated Couple

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Question: My client is separated from her husband and they have been living apart for over 6 months.  Do we need to include his income in our household income calculation?  Our borrower has documentation such as a lease and utilities to prove a separate residence. Answer: Following are the guidelines, but pay particular attention to […]

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Age of Property Eligible for USDA Manufactured Financing

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Question: My client is interested in purchasing a manufactured home with USDA-RD financing.  It was built in 2012 and the guidelines state that anything newer than 2006 is acceptable.  Another lender is telling the listing agent that USDA only accepts new construction.  Who is correct? Answer: You’re right and the other lender is incorrect. Tennessee […]

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