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Understanding Usda Property Eligibility

By Author: Vikram Kumar
Total Articles: 8204

In order that you qualify for a USDA loans, the property in question has to be located in a specific rural area. It is important to understand that Rural Development Loans are not named so just because they for property located in rural areas. They have been designed to help in building the nation’s smaller communities even as they make property and land more affordable. This is exactly why it might surprise you to see the number of areas that actually qualify for USDA loans. These are no money down loans.

Some of the properties and land that qualifies are located just a short distance away from many major metropolitan cities. There are some other USDA property eligibility as well. The community in which the property is located should have a population of fewer than 20,000 residents. In order to find out if the property you are interested in, is eligible for a loan, you can contact any one of the registered and certified agencies who offer these loans. There are numerous myths surrounding these loans. One of them is that the eligibility requirements do not permit for homes that have in-ground pools.

This is a fallacy. If a person is buying a house with a pool and wants a USDA loan, there are certain guidelines that will have to be followed. Now, some SDA property eligibility-requirements allow for financing of homes that have above-ground pools without any additional requirements. However, for any in-ground pool there are certain extra steps that are needed. The USDA eligibility requirements very clearly state that when a home is being financed with the in-ground pool, that loan amount will be based on the value of the house without any credit given towards the pool. The appraisal list from the USDA lists 2 separate values for that property.

One will have the amount without the pool value added to it. This concept works perfectly for properties that are under market value like foreclosures, short sales, as well as other distressed properties. In addition to this, , this can prove to be a good option when a buyer is willing to bring some additional funds to the closing to make up for the the difference since they want to take due advantage of the low Monthly Premium that the USDA offers, instead of paying exorbitant FHA mortgage insurance. The key point is that USDA property eligibility requirements do permit financing of properties that have in-ground pools.


It can be overwhelming to qualify for a USDA Home loan. However, when it is paired with any lender who specializes as well as understands how the USDA property eligibility works, it can be the key to for some good home ownership. It is important to understand all the nitty-gritty’s of this preferred loan process. The key to getting it right is to have ll the necessary paperwork ready and have it checked to see if you are eligible for the loan. Once you have all of that in place, getting the loan approved is less of a hassle and that home that you always wanted can be yours, sooner than you think.

Resource box:

USDA Loans Texas are a good way of finding property in rural areas at reasonable rates. USDA Loans and USDA Property Eligibility criteria information should be checked thoroughly before you fill in your application.

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