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Updated almost 11 years ago on . Most recent reply

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3
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0
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Big Fischer
  • Rochester, NY
0
Votes |
3
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USDA Rural loan eligibility on Multi Family

Big Fischer
  • Rochester, NY
Posted

Maybe it's just me, but I find the USDA website to be extremely complicated and full of contradictions. So if someone could help me out with this, I would be very grateful.

1) Does the USDA rural 0% down mortgage allow for Multi-Family as long as its within the rural zone they designate?

2) Is there a minimum credit score required generally?

The low down. Looking to purchase my first investment property. Found one in a college town, fully rented. I used the USDA eligible property locator and it IS eligible. However, it is a multi family. Not sure if that matters. Also, my credit score is 651. Not sure if that matters.

Thanks for any advice in advance!

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