USDA Loan FAQ: What are Three Questions about USDA Loans that every seller should know?
What are Three Questions about USDA Loans that every seller should know in Florida, Texas, Tennessee, or Alabama?
Sellers can sometimes be hesitant to accept USDA financing for their property, but this is often due to common misconceptions about the USDA program. With that being said, today’s video focuses on providing answers to 3 important USDA loan questions that every seller should know!
Plus, for more vital USDA facts please download our FREE guide, USDA Blueprint for Success. It’s a great tool for sellers, realtors, and home buyers alike!
USDA Loan FAQ: What are Three Questions about USDA Loans that every seller should know? in Florida, Texas, Tennessee, or Alabama?
1. Do USDA loans have a maximum sales price?
Answer: USDA Loans do NOT have a maximum sales price or loan amount!
While many may automatically assume that higher sale prices do not qualify for a USDA loan, this is simply not true, because the maximum USDA loan amount is based on the buyer’s qualifying ability, not a set loan limit like FHA or Conventional.
2. Are there any closings costs that a seller must pay for on a USDA Loan?
Answer: A seller is NOT required to pay for any closing costs on a USDA Loan!
While these types of charges are often referred to as “non-allowable” costs, remember that there are no required costs that a seller must pay on a USDA loan. The only costs that a seller must pay are for those negotiated upon within the sales contract.
3. Do USDA loans allow in-ground swimming pools?
Answer: USDA Loans ALLOW for properties with in-ground swimming pools!
USDA guidelines under the Single-Family Housing Guaranteed Loan Program have permitted properties with in-ground swimming pools now for over a decade!
Your USDA Loan Questions Answered!
As you can see, these USDA Loan answers eliminate common myths about the USDA program and allow for a seller to feel comfortable when accepting a buyer’s offer who is qualified for a USDA loan.
Thus, as an approved USDA lender, we understand the USDA program and how to maximize its qualifying flexibility.
Simply call or email to discuss your scenario and let us show you the “Metroplex” difference!
Call/Text: 863-593-2001
(800) 806-9836 Ext. 280
SeanS@MPLX.org
Plus, download our FREE USDA guide, and it will walk you through the USDA process step by step.
Make it a great day and I look forward to seeing you for the next tip of the week!
