USDA Rural Development Loan Guide | USDA Guaranteed vs USDA Direct

USDA Rural Development Loan Guide | USDA Guaranteed vs USDA Direct | DOWN PAYMENT ASSISTANCE

Рет қаралды 66,853

3 жыл бұрын

I discuss the differences between the USDA Guaranteed Loan (Section 502 Guaranteed Loan Program) and the USDA Direct Loan (Section 502 Direct Loan Program). The USDA Rural Development Loans are a great way to buy a house with 100% financing and $0 money down! By the end of this video you will learn which of these USDA rural development loans is right for you!
𝗦𝗲𝗮𝗿𝗰𝗵 𝗨𝗦𝗗𝗔 𝗥𝘂𝗿𝗮𝗹 𝗗𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗟𝗼𝗮𝗻 𝗘𝗹𝗶𝗴𝗶𝗯𝗹𝗲 𝗔𝗿𝗲𝗮𝘀: eligibility.sc.egov.usda.gov/...
𝗖𝗵𝗲𝗰𝗸 𝗨𝗦𝗗𝗔 𝗜𝗻𝗰𝗼𝗺𝗲 𝗟𝗶𝗺𝗶𝘁𝘀 𝗶𝗻 𝗬𝗼𝘂𝗿 𝗔𝗿𝗲𝗮: www.rd.usda.gov/sites/default...
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Hi, I’m Nicole Nark, a full-time Realtor® at HomeWay Realty in Little Rock. I came to Little Rock with the love of my life, I am a proud Mom of two furbabies (Mini Schnauzer Mix and German Shepard), a Graduate of Communications from the University of Arkansas-Fayetteville and Honor Graduate of Arkansas Real Estate School in Little Rock.
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Пікірлер: 210

@0rcari 2 жыл бұрын

This program is such a blessing. I don’t want to live in an apartment with my son the rest of my life.

@queenmary1224 2 жыл бұрын

Thanks for sharing! Are African-Americans welcomed? Some of us want the same as everyone!

@-B_G- 2 жыл бұрын

@@queenmary1224- 🤦‍♂️

@cyndlehick9777 Жыл бұрын

@@queenmary1224 girl what

@Radioman. Жыл бұрын

The people at the two USDA offices I've dealt with are super. Yes, it will take 45 to 60 days to get processed, but the have never failed to answer a call or email and get back quickly. One update. Starting the beginning of 2023 they have removed the maximum size limitation.

@dorianmac7466 2 жыл бұрын

I hope you can internalize and know how much you have helped me and so many others. For years I prayed for good business and for people who work to help others. You have helped so many with all the vital information. Thank your clear delivery, pertinent information and expertise.

@adntigger71015 3 жыл бұрын

I realize direct sounds kinda horrible with all of the restrictions, lol, but I don't think I heard you mention the payment assistance/subsidy only available through direct (I may have missed it?). It can essentially lower your interest rate to as low as 1%, lowering your monthly mortgage payment. For instance, using their income and subsidy calculator with our information, a monthly note payment that would normally be $1,525 would be reduced to $1,070.37. This helped us decide to go with direct vs guaranteed, since as long as we can deal with all of the headaches we can lower our monthly payments by hundreds of dollars per month (the above example is $453/month). Pretty awesome!

@tiariksims623 3 жыл бұрын

Do you mean like funds from assistance programs like first time home buyers?

@fatfree4me856 3 жыл бұрын

This was very helpful! Just the answers I was searching for. Thank you Nicole! Blessings to you 💜

@NicoleNark 3 жыл бұрын

You are so welcome! Glad to hear it was helpful! 😊

@cherylpickney561 2 жыл бұрын

Your videos are the best in helping people to understand these loan types. Thank you.

@NicoleNark 2 жыл бұрын

Thank YOU for watching! 🥰

@jamashiafoy5088 2 жыл бұрын

Thank you so much for all this information it was so helpful. After watching this I subscribed will be watching all other videos. You’re amazing

@NicoleNark 2 жыл бұрын

Glad it was helpful! Thank you for subscribing!

@zoeholland6192 3 жыл бұрын

Currently trying to apply and was going to go with garenteed but realized I need direct because of your video, thank you!

@candelariab2887 2 жыл бұрын

You apply and they let you know which one you qualified for.

@Trulaella 2 жыл бұрын

Thank you so much for this information!

@midnightstorme05 10 ай бұрын

Thank you so much for this detailed breakdown of the differences. It helps so much!

@NicoleNark 9 ай бұрын

Glad it was helpful!

@memy6580 2 жыл бұрын

Girl, you are great! And you broke that down so well!

@NicoleNark 2 жыл бұрын

Thanks! Happy to help!

@Michelle.Robinette 3 жыл бұрын

You were super helpful Nicole! As always 😉

@NicoleNark 3 жыл бұрын

Thanks Michelle! Happy to help 😊

@waldofalcon782 2 жыл бұрын

Thank you!!! Really helpful!

@Vonnie777 2 жыл бұрын

Awesome research and information 👏

@monikahouse8419 3 жыл бұрын

Wow! This video was very helpful :) Thank you!

@NicoleNark 3 жыл бұрын

You're so welcome Monika! 😊

@Wwalker1000 2 жыл бұрын

Great information! Thanks!

@Itstimewithconnie 2 жыл бұрын

Great information! Can you do a video about using usda building a home? Thanks in advance

@clpnetwork522 Ай бұрын

Thank you Mrs. Mark! Very informative and transparent!!💪🏾💪🏾💪🏾💪🏾

@NicoleNark Ай бұрын

Thanks for watching! Happy to help ☺️

@rockdots69 2 жыл бұрын

This is so helpful... thank you 😊

@patriciadiaz4602 3 жыл бұрын

Thank you so much for sharing !!!

@tamishreves9891 3 жыл бұрын

very clear explanation by chance how can we find out what the interest rate they charge for the guaranteed route?

@qronlandqronland9987 Жыл бұрын

Great video. Thanks a lot

@RelentlessEnigma 2 жыл бұрын

Great Breakdown

@dft2858 3 жыл бұрын

Thank you so much for this video

@NicoleNark 3 жыл бұрын

You're so welcome 😊

@thanle6628 Жыл бұрын

Thank you for your info

@StephanieWeeks 3 жыл бұрын

Great video Nicole! To everyone who complains about paying MIP on a USDA loan: it funds the program!

@NicoleNark 3 жыл бұрын

Thanks Stephanie!

@cobrahatch 2 жыл бұрын

I just did my usda loan on 200k home,and miss insurance is only 50 to 60 dollar a month of my payment and rest of the 940 dollars is priciple,home owners and taxes. Today's prices that's comparable to a 2/3 size of my dwelling comparable rental. Win win situation with the home purchase and isda approach.i ended up only spending a total of 550 appraisal,280 inspection ,250 on goodwill money down and then 256 dollars at closing as I asked seller to pay all closing ups to 4.5% of sell value

@alvingeroy3242 2 жыл бұрын

@@cobrahatch how much do you make per year? my wife makes 120k and were at the upper limit of our area, but houses cost 400k+ around us for old ones in WA so were honestly looking into doing a construction loan and purchasing land near developed housing area for our utilities. low income here is 127k for a family of 4 which is insane because when you look at the 400k houses around here (it'd be a mansion in say TN) but here its a 1900s house falling apart lol. I'm just wondering if we can get approved for a 400k house on 120k income

@gamingwithgoldi 2 жыл бұрын

I just got my credit eligibility letter for the direct program. Going to the builder to see what we can do with 300k.

@cebrinamone 2 жыл бұрын

@@gamingwithgoldi may I ask how much u made to be approved that much? I’m waiting on an answer homes are high hopefully it’s enough 😭

@ayewhite333 2 жыл бұрын

Thank you!

@deepikaatkinson4111 5 ай бұрын

Great insights thanks

@janiceturnbull9100 2 жыл бұрын

Thank you for providing this information. In a previous session, you stated that you would provide information on the banks that can process the USDA loans. Can you post that info for banks in Tampa FL please and thank you.

@dawncrawford9159 3 жыл бұрын

Great explanation 🧚🏼‍♂️

@NicoleNark 3 жыл бұрын

Thank you! 😃

@delilahgreen3276 2 жыл бұрын

Thank you so much for this content!! Can you please make a video about using the first time home buyers grant while using the USDA Rural Development Loans

@sammiemartinez3280 2 жыл бұрын

Yes please!

@MaBerryHomestead 2 жыл бұрын

@narkhomes . Please address using 1st time home buyers grant with USDA Rural Development Loans.

@quisppette1 2 жыл бұрын

Please

@Stephaniesworld1212 3 жыл бұрын

Thank you for this very informative video. God bless you

@NicoleNark 3 жыл бұрын

Thanks for watching, Stephanie!

@Stephaniesworld1212 3 жыл бұрын

@@NicoleNark Hi Miss Nark, if I am doing a usda guaranteed loan will my interest rate be high? And will i still have to pay a pmi? Also with the current market, can I ask the seller to cover some of the closing cost? Or should I put the 3-4% of the listing price (closing cost) down myself? I have not been pre-approved yet but I will like a home around the $250,000 to $315,000.

@Phillip4six 2 жыл бұрын

Thanks!

@takishabaker7520 11 ай бұрын

Thank you for the info!! Do you have to have reserve money?

@applejack2911 2 жыл бұрын

Can you explain subsidy recapture pertaining to USDA loans? I am a little confused and concerned about it

@marisolfilares4602 2 жыл бұрын

I stumbled on you and I actually live in central Arkansas too! I am applying for the direct loan but am afraid my sole income may be too high, can you recommend any USDA-guaranteed banks in the area in case I get denied? Thanks Nicole!

@shelbys2015 2 жыл бұрын

This video was sooo so helpful! I applied directly to my USDA Rural Department office (or what we it’s called lol) And I’m waiting to hear back today. It’s been 4 days since I’ve applied for a usda loan. My credit isn’t high enough for traditional lending options, and I don’t have enough for a down payment so someone told me about USDA loans so I did a bunch of research online and found out how and where to apply. :-) I’m hoping I can be approved, but I’m thinking my route is the Direct USDA loan. That worries me because of how long they take to do everything, and houses here are selling after being on the market for less than a week. The longest they are listed is about 2 months. So I feel like I’m gonna have a hard time finding a house and then to be approved because I don’t know if sellers will be willing to wait that long. So we shall see!

@jasminerussell6929 2 жыл бұрын

I'm in the same situation! How's it going? Let's connect because I'm lost in this lol

@unionizetechtempe379 Жыл бұрын

How’s it going?!

@shelbys2015 Жыл бұрын

@@unionizetechtempe379 I applied, couldn’t find a house in my budget in the area and they said it would take however long. So that route didn’t work for me. However I did buy a home! Well a trailor through different financing.

@unionizetechtempe379 Жыл бұрын

@@shelbys2015 congratulations! A trailer is a lovely and sensible home 🥰

@1southernitalian 3 жыл бұрын

DIRECT is for low to very low income. It depends on the medium income for the area you are going to live in.

@1southernitalian 3 жыл бұрын

@Tam Snow did you get the DIRECT loan? It is only for very low to low income. The USDA loan that is not direct, is not for low income only

@jasond5807 3 жыл бұрын

So Direct loans have county max loan limits and 2000sqft limit on house size. Are both of those not set with Guarentee loans?

@riayahperson7317 3 жыл бұрын

Great information, thanks! I reached out to you once before and you were very helpful. I'm ready to apply for a USDA loan but can you recommend or do you know of one or two lenders that will lend to those with a credit score of 620-639?

@monicatwist 2 жыл бұрын

Not sure what state you are looking in but my company does ☺

@MaBerryHomestead 2 жыл бұрын

You can apply directly through USDA website, bank/credit union, local realtor (who will put you in touch with mortgage broker, I'm doing it this way as moving to another state. Uploading paperwork via app)

@everndickerson6181 2 жыл бұрын

Thank u answer my question

@NicoleNark 2 жыл бұрын

Most welcome 😊

@person-sx2wc 2 жыл бұрын

Great information from a beautiful woman who looks to be single 🙌🏼 thank you! Wish me luck on my guaranteed please 🙏🏻

@biz4smitty 3 жыл бұрын

You are AWESOME!!!

@NicoleNark 3 жыл бұрын

Thank you! You are awesome for watching!

@biz4smitty 3 жыл бұрын

@@NicoleNark And you are Pretty as well!😊

@NicoleNark 3 жыл бұрын

@@biz4smitty Thanks!

@unmessymymess7731 3 жыл бұрын

Can you please make video in regards of USDA Construction loan when you own your own land. I purchased cash property last year n I'm confused with the information that I read. I already checked my property n it's USDA property eligible. Thank you!

@jameserbschloe8150 3 жыл бұрын

I need this information myself

@siearrawebb7048 2 жыл бұрын

I need this!

@Throwaway18666 2 жыл бұрын

Still need an answer on this, lol

@BossLdie84 2 жыл бұрын

Would love this

@TheConservativeLatina 2 жыл бұрын

Definitely need this info as well. I purchased land. Time to build on it. Can I use USDA for this...land is USDA eligible

@courtneystriker6953 Жыл бұрын

Do you know if they do a soft credit pull prior to closing? This is for USDA Direct 502

@irelasequeira1043 3 жыл бұрын

I have a question 🤔 What happens if you are buying in Florida but you have a co-signer from other stade for example texas ?

@1dagoods 2 жыл бұрын

Nicole, You layed out a very comprehensive video, Thank you!! Will you be my agent?

@vanessabrown6969 2 жыл бұрын

So you can't apply for both and compare what one works best for you or you have to decide which loan to apply for first?

@TheGigiChannel 2 жыл бұрын

Thanks for providing so much helpful info I was needing! I have a question. I'm separated from my husband and trying to buy MY own home. He sends me money for our kids (not court ordered) so I have incoming funds in my bank showing that.. will the lenders require him to show his income? I saw the direct loan wanted to report all incoming money and its source. I'm wondering are both direct and guaranteed is that way because he's not going to provide his income information.

@NicoleNark 2 жыл бұрын

Hey Gigi! There are a few things I need to know in order to help answer your questions! Can you send me an email and we can discuss it more? NicoleNarkRealtor@gmail .com 😀

@dawnalford726 Жыл бұрын

The direct program does not replace its employees, they are way under staffed. The lenders who process the guaranteed loans have more employees per lender per area than the average direct program has employees to process loans for their entire state. The entire state of Indiana has only 12 employees that touch direct loan processing. I Initial inquiry to closing. Fact! That is why they are "slow and unorganized".

@jlmcaramelprincess 3 жыл бұрын

We inherited land and are undecided about building or buying a manufactured home, how to we contact USDA directly and would we have to go USDA direct instead of guaranteed

@HomebasedHundo 2 жыл бұрын

Hi Nicole, do the USDA Guarantee Loans allow for a co-signor just for the income part of the equation? My credit is good, 700. My dad will sign for me, but he alone makes more than that 90k. Just wondering will that be a deal-breaker? I am in the Little Rock area too, but looking at an area in Saline County that says it qualifies!

@sergiobaires7545 Жыл бұрын

Did you ever apply and answered your own question by chance?

@JDThomas4 2 жыл бұрын

What about if there is two living structures on the property?

@elizabethgerena3143 2 жыл бұрын

Hello can you please give us any updates on this program and can this be applied toward condos??

@landp1638 3 жыл бұрын

Hello Nicole, where would I get a USDA application?

@JesseBeahm Жыл бұрын

Can you help me make sense of this? I just got one under contract yesterday, its a condo : Jesse, You mentioned that this property is a condo, I wanted to give you a heads up that the applicant must submit documentation from the appropriate agency showing that the project is acceptable for financing. Loans cannot be approved for condominium units unless the project has been approved for financing by one of the following. Department of Housing and Urban Development (HUD), Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), Department of Veterans Affairs (VA), State Housing Finance Agency (SHFA),

@tams.114 2 жыл бұрын

Can you see the difference between the two before making a decision?

@morod5575 3 жыл бұрын

Thank you for an informative video! If you get a house via the USDA loan and decide to move to a different county, do you have to sell the home? Or an you keep the home?

@NicoleNark 3 жыл бұрын

You would not have to sell the home. You could keep it as long as you keep paying for it!

@rhb30001 3 жыл бұрын

@@NicoleNark you mean it can be rented out?

@NicoleNark 3 жыл бұрын

@@rhb30001 yes it can be rented out after a period of using it as your primary residence!

@rhb30001 3 жыл бұрын

@@NicoleNark after a year?

@travielharrison4394 2 жыл бұрын

if I am buying the land and and getting my house build, I won't have closing costs? Is that correct?

@user-ox8jk7qm1q Жыл бұрын

فيديو رائع وجميل جدا

@chachee15 3 жыл бұрын

Can we put in the contract for any loan, wording that says the bank cant sell our mortgage?

@NicoleNark 3 жыл бұрын

Unfortunately you can not. But you can try to find a bank that will keep it in house by asking around!

@ahmadkhan7818 2 жыл бұрын

i propose you for merry and also clint for loan for rural land purchase

@onerandomvtuber7173 2 жыл бұрын

Are the approval amounts more for direct?

@nycole00 3 жыл бұрын

The VA Loan you have 2

@sammiemartinez3280 2 жыл бұрын

Can you buy land and build a house with usda direct?

@BWTHHYBL.TITSOAK 3 жыл бұрын

Hi, I had a question. If I'm trying to get a first time home buyers usda loan (either guaranteed or direct) and I plan on making that my residential place of living but also I'm going to make that address my BUSINESS address for my great pyrenees dog kennel.. Would that go against the rule of the usda loan of making "profit from the property"? Or is this legal? Would I need a different type of loan because my address of business would be the same as the address I'm getting my loan from? If that makes since..

@NicoleNark 3 жыл бұрын

From my understanding, yes this would go against the rules. The USDA loans are pretty strict about the property just being a residence and not also a business.

@gamingwithgoldi 2 жыл бұрын

You cant use the land for business... but you can run one out of your home. So no farming or space rental type businesses.

@vanessabrown6969 2 жыл бұрын

Can you get a house build with both?

@xLexiMarie 3 жыл бұрын

Hi Nicole! This will probably be a long comment so sorry in advance! I'm a first time home buyer and I'm working on getting a USDA (guaranteed) loan, I'm still contacting lenders in my area for different rates and such. I've used the different calculators online and realized if I do get approved for a loan of average home price I still wouldn't be able to afford monthly payments. Average price in my area is around $530k, with occasional homes in the $450k range. I can afford no more than $1.5k a month but most if not all homes would probably require over $2k a month. I know I more than likely won't qualify for a loan any more than $300k. First question - is it possible to use a down payment assistance program (preferably a grant) along with the USDA loan? I can't put my own money into a down payment but I know that any down payment would bring the monthly payment down at least a bit, depending on how much. Second question - if I'm not able to use any assistance on down payment or if I still wouldn't be able to afford the average home, would purchasing a foreclosure be a good or bad idea? I know of some homes here that have been sold for between $100k-$300k which is what my budget will probably be. I'm aware of some of the risks that come along with foreclosures; being sold as is, missing appliances, rundown home, etc. but I'm more worried about the risks financially. But if I was to strike gold and come across a foreclosed home less than $300k, that's in nice and live-able condition with little to no work needed, should I jump on that opportunity? From doing my own research it seems/feels like in my area the only way I would be able to purchase a home is if it's a foreclosure since they generally sell for less. But even still, I know finding one might be difficult. If I do qualify for a loan of any amount I would of course be getting into contact with a realtor here to discuss these concerns but I would love to know your thoughts. Thank you so much and again I'm so sorry for such a long comment!

@NicoleNark 3 жыл бұрын

Here are some answers! I will do my very best to help you out. 😊 The USDA loan is already a form of down payment assistance and you can not combine it with other down payment assistance programs. The USDA loans already try to keep monthly payments as low as possible to help buyers with affordability. Your other option would be to look at some down payment assistance programs that you could use with something like an FHA loan. Usually those forgivable grants that you mentioned are restricted to the very low and low income earners. So you would have to see if you are in the income bracket to even look at that option. When it comes to buying a foreclosure of course there are risks. The main issue that you could run into comes with appraisals. No matter what loan type you use, your lender will send out an appraiser. Every loan type has requirements that the home must meet for the appraiser. (All utilities turned on, basic kitchen appliances installed, safe to live in, etc) Most foreclosures will not meet these requirements and if the house does not meet them you will not be able to buy it with the loan. Your best bet would be talking with a local Realtor and lender in your area! Ideally they will be able to help you make buying a reality this year or you may need to wait a bit longer and save up your own funds for a down payment to make the monthly cost more affordable! Hope that helps a bit!

@xLexiMarie 3 жыл бұрын

Thank you so much!! I appreciate it ☺️

@terriscarey7564 Жыл бұрын

Do both programs have the same interest rates?

@mikereed1096 Жыл бұрын

What is the repayment for the guarantee loan?

@permenantvacation9973 2 жыл бұрын

Can I get a USDA loan in another state I plan to move to within 30-60 days

@reeseleebaby 2 жыл бұрын

Is there a lot/land size limit like there is a house sqf limit? Is homesteading allowed with these loans?

@NicoleNark 2 жыл бұрын

The lot/land needs to be considered “normal for the area”. You can homestead but it is important to note that you would not be able to have an income generating business on the property.

@gatesgoza9703 2 жыл бұрын

I want to buy land and property 35k and build new home $100k. USDA says min loan is $50k but do they allow Purchase with building loan?

@Techpodshed 2 жыл бұрын

I got my lot level I need a construction loan!

@kizysmith7574 2 жыл бұрын

How do you qualify for the loan

@nicodemus9105 Жыл бұрын

What is the interest rate the usda charge??

@thetraveladdict1656 3 жыл бұрын

I'm looking for information about which loan to apply for to build new construction on raw land?

@danielleteat5009 3 жыл бұрын

Me too. I own an acre raw land. And am currently being preapproved I need to know some thingssss.

@J_WheelerDoll30 2 жыл бұрын

@@danielleteat5009 at the moment, Usda aren’t approving construction loans by Usda. I know neighbors bank isn’t. Every lender is different though. Just find a bank/lender and ask before applying

@MrHALFPITT 2 жыл бұрын

💯❤️❤️❤️

@bayjae2520 2 жыл бұрын

For the guarantee USDA loan you said 640 for the credit do you know by chance which credit are they pulling like Experian, Equifax, etc

@bourbon.36 2 жыл бұрын

They pull from all three, and use the middle score for approval and other things. For example, if I had a 720, 737, and a 750, they would use the 737.

@dane5678 2 жыл бұрын

Ok I have a question....does the direct loan include you tax payment per monthand your insurance payment per month? Does the property have to be turnkey ready? I am having issues finding a house that would pass government inspection and most sellers are stating conventional loans need only make offers. People don't want to fix up their houses before they sell because the market is so seller driven

@gamingwithgoldi 2 жыл бұрын

We are using direct and building a metal bardominim. You might want to try that route because existing homes can be tough to pass for sure

@juliemarie7854 3 жыл бұрын

Can you build a home on these programs? I want to build a home on my existing property?

@NicoleNark 3 жыл бұрын

You can! You would need to go directly through USDA for the building program!

@sangove1 3 жыл бұрын

Cant find out who to contact in florida to apply, cant apply online as their site constantly crashes, about to give up on this.

@NicoleNark 3 жыл бұрын

Website crashes are frustrating! Here is the contact information for all of the Florida offices! Best of luck! 😊 www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans/fl?pid=#blocktabs-state_program_page_blocktabs--45

@sangove1 3 жыл бұрын

@@NicoleNark ty, i have an appointment to verify my ID this afternoon, office is 1.5 hrs away. after that, says i can do everything online.

@MaBerryHomestead 2 жыл бұрын

@narkhomes . Can I use my Housing Voucher in combination with USDA mortgage loan? This will allow my HUD Housing Voucher to continue to help towards payments for up to 30 years or qualified out of program. Once in home only income requirements continue and I would still be able to qualify for improvement grants for house due to initial necessary repairs.

@anacastro-beard782 2 жыл бұрын

As long as the provider of your voucher has a homeownership program, ABSOLUTELY! Additionally, the Housing Choice Voucher will add to your repayment ability! I will say, however. I work for a Housing Autho. To my knowledge, it will cover for 15 years, unless the recipient becomes verifiable disabled. At that point it will be for the life of the loan.

@MaBerryHomestead 2 жыл бұрын

@@anacastro-beard782 Thank you for responding! Yes I am disabled! Awesome!

@anacastro-beard782 2 жыл бұрын

I do not know if this will work for the 502 Guaranteed, but it does for sure for the Direct. I should have specified that in my original comment.

@ndayembidi6781 Жыл бұрын

How much do I need to save ?

@patti.j 2 жыл бұрын

Question if you got a USDA direct loan can you change or refinance for a Guaranteed loan?

@hitalexanderliamhacksonins5619 2 жыл бұрын

The least I can do is offer you sincerely thank you from the bottom of my heart. Your help really came in handy for me at the time, when I desperately to buy me a house. Thank you once again Alexander liam hacks and I know that this sincere help of yours will not be forgotten soon

@nicolescott8265 3 жыл бұрын

I tried to get the USDA but was denied not cause of credit issues but what was in my credit I’m trying but need more advise on what to do

@tony-st8fy 2 жыл бұрын

What was the problem in your credit? Missed payments ? Guna have to wait it out or dispute it to get it removed from your credit file

@debratesterman9531 2 жыл бұрын

The USDA office in Rola said I have to qualify through them. So I am screwed honey

@lisaeichblatt2068 3 жыл бұрын

Where can I found my county it’s not on the 476 page document lol

@NicoleNark 3 жыл бұрын

What county are you looking for?

@damybattle6611 8 ай бұрын

How do you apply for either of these loans? I’m on the website but can’t seem to find an application.

@damybattle6611 8 ай бұрын

I’m in Florida

@NicoleNark 8 ай бұрын

For the direct: contact the USDA office in your area. For guaranteed: there is a list of lenders in the video description. Hope that helps ☺️

@ChocolateThaiii 5 ай бұрын

Do you know if you get more money from guaranteed or direct?

@NicoleNark 5 ай бұрын

It’s hard to say because the routes are for different buyers. Unless you fall into the very low income bracket for your area, direct will not be an option

@MsCelestialSecrets 3 жыл бұрын

They are 1 year behind where I am. I lost my chance for down payment assistance because it’s so long. I’m doing the direct loan. I have 6 people in my household. 1 adult 5 chren. I own a 20 acre property. Can I move a manufactured home to my existing property big enough for all of us with this loan? Or am I wasting my time?

@NicoleNark 3 жыл бұрын

Wow I am sorry you have had such a long wait time! What is it exactly that you are trying to do? Are you wanting to use the loan to move the mobile home or buy something else?

@MsCelestialSecrets 3 жыл бұрын

@@NicoleNark I’m waiting for the application to be processed. I don’t even know if I’m approved yet. I’m trying to move a manufactured home onto the property I bought. It’s in the middle of nowhere but it’s 20 acres.

@BWTHHYBL.TITSOAK 3 жыл бұрын

@@MsCelestialSecrets I don't remember if it was a youtube video or website but I think depending on state you may be going against the rules to place a manufactured home on the property that you used a usda loan with. Idk if that applies/pertains to you but just fyi... don't take my word for it just look up your states rules with the type loan you have and what types of houses can be placed

@MsCelestialSecrets 3 жыл бұрын

@@BWTHHYBL.TITSOAK thanks

@mic12300 2 жыл бұрын

Is there a closing cost for the USDA direct loan?

@gamingwithgoldi 2 жыл бұрын

Yes but if you have extra in your loan or your house appraise for more you can roll in the closing costs.

@rodmartinez621 3 жыл бұрын

Hi Nicole ! Is this USDA loan available in California?

@NicoleNark 3 жыл бұрын

Hey Rod! It is available in certain parts of the state! What area will you be looking in?

@rodmartinez621 3 жыл бұрын

@@NicoleNark Thanks for getting back to me so quick! Yes it’s for Tulare County

@HolyAscencieonChurch 2 жыл бұрын

I felt with the USDA and the Supervisor TOLD ME that I HAD to be MALE AND RUN BULLS for three years !! SHE said that she WOULD NOT given me a loan to start a farm, even with knowledge and experience, because running FEMALE SHEEP was NOT what they wanted to find ! And, BECAUSE I WAS FEMALE. !! I HAVE A WITNESS TO THIS DISCRIMINATION !! Even after telling a Congressmen about this, he told me that Congress was VERY AWARE of the FEMALE DISCRIMINATION OF THE USDA AGAINST WOMEN REGARDING GIVING THEM A FARM OR ANY LOAN !!

@lexiehurt6345 2 жыл бұрын

CAN YOU USE THESE LAONS FOR LAND WITH NO CURRENT HOME ON IT?

@NicoleNark 2 жыл бұрын

The USDA loans that I discuss specifically in this video can only be used for properties that have a dwelling on them.

@ohohohjfgfgdss 2 жыл бұрын

Have you ever helped an individual/family obtain land & construction loan to build home? Is that even a thing, if so please help. I feel like I have called every lender to help my family and I obtain land and build our dream home to no avail.

@sol-magdalenealicea7717 2 жыл бұрын

Are you a real estate agent?

@dangnabbit3368 3 жыл бұрын

Hi Nicole great info. If the applicant has a disabled spouse and a disabled adult child are the disability incomes of them counted in the total income for the household. Thank you

@NicoleNark 3 жыл бұрын

Yes that is correct! Their incomes would be counted

@donnaward9971 Жыл бұрын

Does all the ssd income for everyone determine the loan amount or is it just for the income limit purposes to qualify ? Thanks