If your search for a home lands you in the market for a government-backed loan, you have to look for a specific lender. You cannot just walk into any bank and assume they can give you a USDA, FHA, or VA loan. Instead, you need a lender that has already received the approval to provide each specific loan type. USDA loans are less common than other government-backed loans, so finding approved lenders for this loan type may take a little … [Read more...]
How Long Does USDA Direct Loan Underwriting Take?
The USDA Direct Loan helps very low-income families secure housing. An eligible borrower can purchase a home in a rural area with this program. The program assists these low-income families by providing payment assistance. Typically, this means lower payments for a specific period to help borrowers afford the new mortgage payment. Every family receives a different amount of assistance with this program. Because of its unique properties, … [Read more...]