All Forum Posts by: Matthew T.

Does the USDA loan have a financial penalty or a "prepayment penalty" for paying off the mortgage early or selling the property? How long does a person have to wait until they can sell a property with a USDA loan? Thanks!

Hello,

I heard that the USDA Rural Loan program has funds so someone can renovate and rehab a property. I know the FHA 203K loan gives you up to $35,000 in funds to rehab but how much funds does the USDA Rural Loan program give you to rehab and renovate and what all does it cover?

Any information would be greatly appreciated!! Thank you!

Great! Yes, I heard a lot of good things about the USDA loan and I think that would definitely be my first option. Thanks again!

Thanks Michael!!

Hello,

I was wondering can I obtain a conventional loan for a rental property "after" I obtain financing for a USDA loan? I wanted to use the USDA loan to obtain my primary residence then after I move in, I want to purchase a rental property with a conventional loan. Is this allowed? Any professional feedback would be greatly appreciated.

Thank you!

I was wondering can you purchase a multifamily property (Duplex, Triplex, Quadraplex) with a "USDA" loan? If so, how does this process work? Thanks!

Oh thanks! I didn't know you can use USDA properties as investments.

Thanks Dion for your response! What about while I live there I wanted to rent out the other unit or units, is this allowed under USDA?

Hello,

I was wondering can you purchase a mutifamily home (duplex, triplex or quad) as an owner occupant residence with a USDA home loan?

Thanks!

Thanks for your response Chris! So after a year of residing there, you can rent out the USDA property? What about if you wanted to sell the home before the year is over?