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My USDA Direct loan experience so far.

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Kg1977
Established Member

Re: My USDA Direct loan experience so far.

Ok, this freaks me out a bit. I am currently doing a USDA direct loan as well and my concern is the house I am buying is 5 bedroom 2 bath. Totally sq ft 2447. Entire lot (with home) is 7057 sq ft. I am approved for 138,900. This house is listed for 89,000. My question is, will they not approve it because of the sq ft? I just put an offer on this home and would hate to waste anyone's time if they think this is not modest in size. Im very confused.
Message 11 of 14
Anonymous
Not applicable

Re: My USDA Direct loan experience so far.

Call your local USDA office and ask what the max square footage is.This can vary by region.

Message 12 of 14
Kg1977
Established Member

Re: My USDA Direct loan experience so far.

Im in ohio (Midwest) is 1800 sq ft but anything over 1800 sq ft they would need 12 months worth of past utilities to see if an applicant can afford the ulitilies, maintnance, etc...However, reading the handbook, they made exceptions if it is modest in size for that subdivision/area.
Message 13 of 14
Anonymous
Not applicable

Re: My USDA Direct loan experience so far.

You're lucky regarding being able to use the utility bills. We were told they will automatically reject anything over the max square footage here.

Message 14 of 14
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