USDA loans are often thought of as farmers’ loans. People consider them only when they think about purchasing a farm or an area with a lot of land. This, however, is not what the loan is for – it is for homes that are located within a rural area. Understanding not only where rural areas lie, but what areas are considered a USDA eligible rural area can help you determine if you could apply for a USDA loan. Finding a USDA Eligible Rural … [Read more...]
Buying a Manufactured Home with USDA Financing
Buying a manufactured home with bank funding is not the easiest task. Banks look at manufactured housing as high risk mainly because you usually don’t finance the land too. When you purchase a home built on site, you finance the home and the land. Manufactured houses are more like personal property than a real estate investment. Because of this, you may not have an easy time finding traditional financing. However, the USDA offers the … [Read more...]
