Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 483
Registered: ‎08-13-2008
0

Can I use USDA to build a house?

If so how do I go about finding someone that will do it? My current lender said no they dont do it, then again I dont think my current lender is well versed in USDA.

Equifax - 658, Experian -628, Transunion- 704 In the garden until 01/01/2016
Super Contributor
Posts: 8,416
Registered: ‎09-28-2007
0

Re: Can I use USDA to build a house?

To my knowledge only the Direct version of USDA is doing construction loans.  I've spoken to a few USDA offices that say it's available as a product for mortgage lenders to sell on the Guaranteed version, but when asking what mortgage companies have requested guarantees on USDA construction loans not one USDA office (out of about a dozen) could think of one.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.