Anyone ever done one of the USDA loans for land? Looking for some help in this area.
SteveBott said:
You need an existing home and it needs to be in an approved area. You can check here
https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp
Jay@AgsReward.com said:
USDA does not have a construction program, but FHA does. FHA would require 3.5% down which is the lowest construction program I am aware of as most construction programs require at least 10% if not 20%. FHA would not also be income or geographically restricted. In smaller counties the max loan amount is 275,665 with a higher limits in metro areas.