Every loan has a perfect candidate, especially those loans that are backed by the government. The USDA rural development loan is among those that the government backs up and is geared towards a certain group of people. The USDA loan was originally started to build up development in rural areas. In recent years it has become one of the hidden gems in the mortgage industry as it still allows for loans of this type in areas that … [Read more...]
USDA Loan Guidelines: Common Questions
When it comes to USDA loans, many times people have questions on underwriting guidelines. Here are few of the more common questions and answers when it comes to USDA loan guidelines: Question: How long after a bankruptcy can someone qualify for a USDA loan? Answer: Bankruptcies are not allowed in the last 36 months. Question: Can you get "cash back" at closing with a USDA loan? Answer: The borrowers may not receive any … [Read more...]
