USDA

USDA announced that they will require a $25 technology fee on every loan. This is not the lender’s requirement, it is a new fee implemented by USDA. The collection of this fee will be used to modernize USDA technology.

Related Article Title: USDA – NEW Technology Fee Being Implemented – Dated June 12, 2019 – Effective January 1, 2020 Written by: David Hail, Staff Writer USDA lenders, this is an important update just announced by USDA regarding required fees. Read through this article to find out all of the details. Rule Synopsis: On June [...]

2019-07-09T12:20:01-05:00July 10th, 2019|Social Media Posts, USDA|

USDA – Confusion regarding Chapter 9 Underwriting Rules

Written by: David Hail, Staff Writer Our USDA expert talked with the Washington DC office directly to clear up confusion caused by some guideline clarifications released this year. Find out what they had to say in this article. Rule Synopsis: USDA made some Chapter 9 revisions this year that resulted in confusion among lenders and [...]

2019-07-09T10:49:59-05:00July 10th, 2019|

USDA – Horse Barns: If the property has a horse barn, does that invalidate this property for USDA?

Answer: Homeowners are allowed to have horses and a barn for them, as long as the building is not a business or is income producing. USDA does not restrict homeowners owning horses, or having a barn, for that matter. Reference: Ref: 3555.201 Chapter 12: Property and appraisal requirements Income-Producing Buildings.  The property must not include [...]

2019-05-23T15:16:59-05:00May 24th, 2019|

USDA allows barns, silos, livestock facilities, greenhouses and other outbuildings provided that they are not used for commercial purposes.

Related Article Title: USDA – Horse Barns: If the property has a horse barn, does that invalidate this property for USDA?  Answer: Homeowners are allowed to have horses and a barn for them, as long as the building is not a business or is income producing. USDA does not restrict homeowners owning horses, or having [...]

2019-05-24T08:45:50-05:00May 24th, 2019|Social Media Posts, USDA|