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Can I use USDA to build a house?

Frequent Contributor

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
1 REPLY
Super Contributor

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.
Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

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