USDA Loans – How To Order

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Comprar uma casa é um dos maiores investimentos na vida de qualquer pessoa e, é claro, o mais emocionante. Uma casa não é apenas um investimento financeiro, mas um grande passo em direção ao que chamamos de “o sonho americano”. No entanto, também é um assunto caro que muitas pessoas lutam para pagar.

O programa de empréstimos do USDA abre portas para pessoas que desejam se tornar proprietários, mas não se qualificam para o financiamento tradicional. Esta é uma ótima notícia para todos. Nesta revisão, examinaremos os empréstimos do USDA e como você pode solicitar um.

O processo de obtenção desses empréstimos é bastante semelhante a qualquer outro procedimento de empréstimo no mercado. No entanto, como se trata de uma garantia do governo, há algumas exceções. O processo geral de inscrição envolve a solicitação de aprovação e pré-aprovação. Vamos dar uma olhada nestas etapas abaixo.

USDA Loans - How To Order
Image source: Wikipedia.com

Pre-qualify For A USDA Loan And Finding A Lender

This is the first step towards getting your loan. You must first find an approved USDA lender. There are practically hundreds of lenders who make USDA loans. Working with one that specializes in rural home programs can really help you as a potential home buyer. Now, once you choose one of the lenders, you then have to get pre-qualified. The process of pre-qualification is very easy and it provides you with an estimate of what you can afford if you are eligible for the program.

You should be ready to answer questions such as; how much you want to borrow, how much you make per month, and the total debt you have. Most lenders will request your permission to do a hard pull of your credit at this time.

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Pre-approval

Pre-approval is a more intense process than the pre-qualification stage, and it involves taking the actual situation of your finances into account instead of just simple estimates. In this step, the lender will need to verify specific information about your finances. Some of the most important documents they will require for the pre-approval process are W-2 forms and your tax returns, your photo ID, your bank statements, your pay stubs, and Social Security letters.

The lender will decide how much you can borrow by verifying the information on your credit report and determining your debt-to-income ratio. This shows how much of your monthly income goes towards expenses.

Finding A Home – USDA Approved

If you still haven’t found a home yet, then you should start looking for a real estate agent and begin searching for a home. An agent that has USDA loan experience will help navigate the housing market and find different homes that are eligible for USDA funding.

The USDA specifies the properties they accept under the qualified rural areas. The property should serve as your primary residence and meet all of your other conditions that are set by the USDA. After receiving the preapproved letter, and the knowledge of your eligibility for the loan, the agent will have no trouble finding your dream house.

Signing The Purchase Agreement

After you find your dream home, you must then work with the lender so you can make an offer. Start by negotiating with the lender to cover all other closing costs. Once you sign the purchase agreement, the lender will order your USDA loan for appraisal. Appraisals are required by the USDA to safeguard the homebuyer.

Underwriting And Processing

Once you sign the contract, the underwriter will review the information and examine the file to ensure the documentation and application are truthful and accurate. The underwriting process can take a little longer because it is a two-party system. Your lender underwrites the loan to ensure you meet all of the USDA requirements.

One of their most important requirements is that you should have a credit score of at least 640 for the application to go through. Once the underwriters are satisfied, you can then go-ahead to the final step of closing the loan.

Closing

After signing the USDA loan, you will then receive a clearance to close it. At the closing, you will be required to sign all of the necessary paperwork to finalize the loan and take complete ownership of your new home.

USDA Loans - How To Order
Image source: Wikipedia.com

Conclusion

Não há nada como possuir uma casa ; a maioria das pessoas sonha com esse dia. Agora, enquanto o processo de obtenção de um empréstimo do USDA é como outros programas de hipoteca, o cronograma real é baseado em suas finanças e sua pontuação de crédito. A avaliação inicial leva pelo menos uma semana para ser concluída e, se houver reparos necessários, pode ser necessária uma segunda avaliação. Isso pode atrasar ainda mais todo o processo. Como tal, é melhor iniciar esse processo mais cedo.

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