What is a USDA loan and how do you qualify? скачать в хорошем качестве

What is a USDA loan and how do you qualify?

http://www.usdaloanpro.com - What is a USDA loan and how do you qualify? http://goo.gl/i8tzZS In my opinion, the USDA program is still greatly underutilized with many banks and lenders not even offering the program while others do so in a limited manner. Today’s video tip will show you the steps needed on how to qualify for a USDA loan and how to get started. So, you want to qualify for a USDA loan, but not sure where to start? First off, the property being purchased must be a primary residence and be located within a USDA eligible area. Also, USDA loans are an income based program which calculates total family household income, not just who is on the loan. However, for loan qualifying we can only use the income of whoever is on the loan, or otherwise known as repayment income. Thankfully, USDA has a very user friendly site that can help determine if your property is eligible and also provide county income limits for each state. While minimum credit conditions do apply, USDA loans can offer qualifying flexibility for previous bankruptcies, foreclosures, and short sales. Exceptions are case by case, so if you have a scenario to discuss, please inquire with my team so we can start to review. In situations where there is a limited credit history, USDA guidelines will also allow what is called non-traditional or alternative credit references such as verification of rent, telephone, or utility payment histories as common examples. Remember that while USDA loans are thought of as being a first time homebuyer program, they are also available for previous homeowners. Obviously this was just a beginning and a broad overview, but I wanted to share with you answers to common questions that we receive and help get your USDA journey started in the right direction! http://www.USDALoanPro.com Download our FREE USDA Blueprint for Success! http://www.usdaloanpro.com/blue-print... GET MORE INSIGHTS More ProTips from USDA Loan Pro: Subscribe on YouTube:  http://www.youtube.com/subscription_c... Website:  http://www.usdaloanpro.com Facebook:    / metroplexmortgage   Twitter:    / usdaloanpro