I had just about given up hope on building a home on my 11 acres until I watched this video. I feel like there is still hope. Bless you for this.

This is great info, thank you! Always been a dream one mine to build.

My husband and I are looking into this! Thanks so much for the info!

This was really helpful, thanks so much!

this show was very informative. did a good job on covering the necessary information without dragging it out, and simply explained. it’s a good guide to understanding the program. i’ve seen not so good ones.

This was the best info I have heard to date about this type of loan thanks.

Thank you for the information.

This is great info ..thank u for posting !!!

Very helpful video. Thanks!

Also there is modular companies that sell homes from their lots so they will deliver and set up in 90 days or less for that roll over mortgage.

Just found your channel and didn’t know these programs even existed. Been saving seems like forever for a home. Definitely looking into this option. Thanks for helping those who feel defeated in owning a home again.

Super helpful. So many videos on KZfaq-very few with real experts on the show. Well done!

Wonderful job. Gained a new follower. 👍🏽

I know this is the way to go I been doing my homework on USDA home loans this program is perfect I think especially if its your first time buying a home its a big help.😁

Very helpful thank you

Wow. What a great video. No fluff, just straight to the point. Would you consider doing a deep dive video that goes into using a VA home loan for the purchase of land and building a home. There’s a lot of videos about using the VA home loan to purchase a home, but not many that cover the process of buying land to build your own home. Some of the questions I personally have are: 1) Do loans for buying land and building have the same limit as loans used to buy an already built home? 2) What is the timeline from buying the land to building the home? 3) If there’s a specific plot of land i want to buy, when should I be making contact with the owner to figure our if they are willing to sell? 4) At what point do I look for and hire an architect? 5) Should I consider a VA home loan or a USDA construction loan? 6) What are the differences between these two loans (pros, cons, things to keep in mind, etc)? 7) Does using a USDA construction loan have any impact on using the VA home loan in the future? 8) What ratio should I keep in mind to split the loan for buying the land and building the house (40% Land & 60% building?, 70% land & 30% building, etc.)? 9) Is it possible to buy a 7 acre plot of land to build a modest home? 10) Would it be possible for you to put together a basic roadmap to help guide the process of buying land and building a home (whats is the first thing you should do, look for a lender, land you want to buy, etc.)? Thank you for making this content its been very informative. I look forward to seeing what other topics you cover in the future. You definitely earned a new subscriber today!

So glad i found this video. Sign me up! Tired of trying and getting left out in the woods.

Thank you Mr Lesner. I have been looking into buying a home for the passed 3 years and with the outrageous sellers market this is definately something to look into and thank you Mr. Dave. Im on Guam and its the most challenging out here with the least lender option that does this type of lending. Thank you.

Great information!!! I am considering applying for this program.💪🏾💪🏾💪🏾

Good. Thank you.

thank you

nice job getting someone from the usda on.

Thank you, thank you, thankkk youuuu to the both of you gentlemen!!! I’ve been doing my own research on this loan and speaking with realtors who appears to not want to help with this type of loan so now I know I need to speak with a LENDER FIRST!!! This is the ABSOLUTE BEST video I’ve come across that answered every question I had and have been asking google and TikTok 😂 however I would also like to know if the lenders go by the “middle” credit score or your “mortgage score” ?

Very good information thanks. I have to get to it I need a home for my family.

This is all good news. I own land in a rural area and am below the income limit, Cullowhee NC. I'm excited to reach out to their approved lender list for construction to perm.

Thank you

Thank u kindly for your enlightenments and knowledge God bless you guys and all 🌈❤️🌈

This loan sounds great especially with no payments out of pocket and 2 years experience in construction and you can finance your land you already own.

Really helpfully thank you! Question though, could the home you build be off grid? Solar.

Thank you for the information sir. My wife and I own a home, and are in the middle of closing on a new piece of land which qualifies for this loan. We were planning on trying to save the 20% down for a conventional construction loan, but if this is an option to expedite our build, we will certainly take a look at it.

I own a 5 acre parcel outright, completely paid off in a rural area of the Pacific Northwest. Would the equity in my land count towards the liquid asset requirement?

The great thing about KZfaq is that the information is here for anyone. So no one can claim discrimination or racism. African immigrant on the way yo be selfmade millionaire. Only in the USA. GOD BLESS AMERICA

Hey, friend! Great content. You and Mr. Corwin answered a lot of questions I had. But I still have a little confusion about qualifying for loan approval. You mentioned, and Mr. Corwin confirmed, getting pre-approved by a lender. Does this vary by state? Is there a form we need to fill out and send to an office of some sort? Or are we supposed to get pre-approved on the USDA website? I'm getting mixed information from different sites and friends (who didn't need construction). We have the land, inherited and paid for. We just need a house and driveway. We meet the eligibility requirements for our county. Thank you for all you do!!

Good information

Wow. This is one if not the most clear and informative videos regarding USDA CL. How you respond to all your comments! Thank you for you time and providing such good information. Been trying to figure out how to get started what was true or false! You did a wonderful job. I do have a question. I'm relocating to GA, from Massachusetts. Would I search for a lender in MA or GA., or does it matter? Thank you.

Thank you both. If you get a direct loan thru USDA, since I'm not working with a lender, do I just find and qualify a builder on my pwn?

How quick is the turnaround on the 502 construction loan one time close?

How does the interest RATE of a USDA mortgage compare to conventional? How much more does someone pay in rates?

Didn’t hear what is the max DTI usda will do? Thanks

Would this program work for a Mobile Home, Land purchase as well???? Thank you.

I was approved last year home shortage, took 3 months to get approved this year more homes looking now not for new construction to purchase home already to move in that will come later I will live in my home sell or lease it out then do the new construction.

When utilizing this loan, does this include picking out design options? Once the home is constructed.

I just learned lenders wont deal with land that dont have water running through it or electricity hook up? Is that true heard this from an under writer

There was a lender website on here I don't see it. Can I get that link again please?

What about a modular homes company? And you own your land free and clear?

Can you build a factory/manufactured home like a shipping container home (prefabricated in a factory and shipped to your land) using a USDA construction loan?

Is the “construction loan” part of the “Single Family Housing Guaranteed Loan Program”?

Can someone qualify for this type of loan if they are currently in a resident, but plan on purchasing land/build to have as the primary residence and sell the current one simultaneously or contingently?

What about a home with a in law suite style setup, is that acceptable under a single family requirement?

Hello do you have any information for people living in Texas thanks

I have a question. I have a USDA home. I became ill about 2 years after acquiring my home. (New construction). I went on SSD and SSI. They put me in a program where they subsidied my mortgage. They lowered my mortgage and told me that I would have to pay back the subsidy. They said it was only a small percentage that I would have to pay back. My home will be paid back in 3 years and then I am responsible for the subsidy that they helped me with. Do you know how this works? The office isn't very helpful.

I called a bank on the USDA list of approved lenders and they said they do do construction loans. Is it specific banks that you have to find with in the list? Or is this just too new/not marketed well enough for the loan officer to know the process?

hi ADAM , if you were to lose your job during the construction process , could you sell the build ,or is there a specific time period you must live in property before selling?

If you get this loan can you use a pre manufacture shed structure as a way to spend up the building process with the continuous of doing the other build......

So you have to have a lender to build you can’t do USDA direct?

What happens if your land is already paid off how does that work because now I have equity in the land and that should cover my 20% at least that’s what I think.

So do you have to have the land purchased before applying for USDA construction loan or does the USDA construction loan include the purchase of the land?

Hey Adam, does the loan cover clearing land?

once you're pre-qualified and find land, does loan include cost of getting custom layout for your home? Are you stuck with whatever cookie cutter situation your contractor offers?

If you are pre-approved by a lender already, do you tell them you want to do a usda construction loan or do you have to apply for usda first?

Can u buy a new manufacturing home or a new house that's already builded home in rural area here in Louisiana

Is there a list of lenders who have experienced with this loan product?

All the research I've done talks only about "maximum" income limits. What about "minimum" income limits?

Their website says "Cannot be an income-producing property". Does that mean that I can't decide to farm the land years down the road and profit from it?

Isn't there limitations on refinancing the loan? Pre payment penalties? What about owner builder?

I built a house through USDA-RD back in 2009. It was a very good experience.I had no problems. I sold it in 2019, I had it for 10yrs. I want to build again through USDA-RD here in the same town. Because home prices is just NUTS. I am retired now just received SS#. I'M afraid I will not qualify for enough amount to build. Just a simple 2 bedroom 2 bath about 1200sq ft. What do you think?

OK info to apply

What is the process for land held in a trust for a construction loan?

Can investors or general contractor /builders utilize the USDA program ?

However, one would still need to have the land to build upon first, correct?

Thanks for sharing the informations, I meet all the requirements but, I have SBA Loan and grant it shows on my bank statement, does it effect on my loan eligibility? Thanks

will they allow owner builders loans through fda?

Does this loan cover the cost of the land? Like can I find a parcel and get approved and use the money from the loan to buy the land I want to build on?

You have to be sure the land has water, electricity, and perk test... Am I wrong?

Is it true that the home cannot exceed 2000sq ft?

So is a usda loan better than a conventional for construction???

Could I get something like this in florida for some vacant land with 580 score. Low debt income ratio and likelye 6k down?

Great info! I’ve done so much research and still… it’s not enough? I want to have all in hand and ready! I found a list for new constructions loans and a realtor. But feel that I’m not taken seriously! It’s like, although USDA has a map of approved area’s, it doesn’t specify if there land there for sale! Then once there is land available, who’s to say “if the land is approved” as it may have problems. There needs to be a team of all coming together, on behalf of a future homeowners, collectively! In my case? I would love step by step instructions… Please excuse the frustration to all that are reading this.. Thank you and good luck to all!

Thanks for the information. I live in Florida . I just applied for the usda direct loan(502). How does that work if I want a new construction home? Will USDA have a list of builders? I know you mentioned this being the case if someone was to obtain the usda loan through a lender.

Everything is still up to the lender .. which sucks . How are they allowed to make there own rules within the guidelines of usda

Lots here go for $150k-$300k Could I build a home all in for $350k you think?

Can you get a USDA construction loan as a self-employed business owner (1 year) with no W2?

Is there a program for those on a fixed income? What is his website?

Six months it's been at underwritter uhhhh they say congress has not released funds.

I’m approved for one of loans but confused on what to do, so I need training on where, what or how next to do, please help

Who can help with the USDA paperwork ?

can you wholesale after rehab, if your not happy with the home

I currently live in a non-rural area, with a mortgage. Would I qualify for a USDA single close construction loan (if I meet the income requirements, credit, etc) if I found an eligible plot of land, while still paying my current mortgage? Obviously, I would be selling my current house and moving to the new one once its built. Or, would I have to sell my house first?

I'm in Michigan as well

Can USDA loan apply to 2 units residential?

Will the USDA do a construction loan through thr DIRECT program?

I live in Florida, Got approved with usda direct loan and I will like to build my house, I’m not sure on how to go here in Florida please advise

I make 160k a year. Currently above the income limit for a single person in the area I want to build in. What are my options?

what is the rate for usda?

Only question you didnt ask was about the manufactured homes and modular

Adam I don't have the 20% to put down but I do have a job that pays me 60000 a year and I am trying to build a sustainable Tiny home in GA. I need a construction load but I can't afford that 20% down. Will I qualify for the USDA loan?

Is this loan eligible for an investment property?

Well I thought this would be a good option until I found out that the income limits would be like $86,000 in our area

Hi. How would I get in touch with Dave? Would love for him to talk to my group in FL

Does USDA discriminate on age? We'd like to build a small house. Will they make us prove we'll live another 5 or 10 years? We're 68 and 72.