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Updated over 3 years ago,
Any information on "USDA Loans"?
Hi everyone!
My name is Matt. I'm 29 years old and new to real estate investing. I've spent the last 3 years getting myself completely out of debt (student loans, car loans etc.), listening to the Bigger Pockets Podcast and saving a down payment to start investing in real estate! And man, what a difficult time to be trying to get into the market right now as a first time homebuyer... It's been very stressful thinking about trying to compete in this insane market.
I live in St. George Utah, an extremely booming area just across the Utah-Arizona border. I recently discovered something called a "United Stated Department of Agriculture (USDA) loan". I love the idea of getting out of the city and I would be willing to sacrifice a longer daily commute everyday to live in a more rural desert area around here.
Does anyone have any experience or advice with this type of loan?
My goal would be to take out the loan, buy a small piece of land and build a small (700-800 sq. ft.) home. I am a plumber and I can do the plumbing and a lot of the finish work myself but would need a contractor for most of the bigger construction items like excavation, foundation, framing etc.
Any information would be greatly appreciated!
-Matt