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Where can you apply for an USDA loan?

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Anonymous
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Where can you apply for an USDA loan?

I live in PA Lackawana County
Message 1 of 5
4 REPLIES 4
Anonymous
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Re: Where can you apply for an USDA loan?

Are you looking for a direct loan, or a guaranteed loan? USDA does the direct ones themselves. Contact your local USDA field office. The other ones are done by various local and national lenders. You might be able to get a list from the USDA office.
Message 2 of 5
Anonymous
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Re: Where can you apply for an USDA loan?

Deemac,

 

Thanks for the reply. What is the difference?

Message 3 of 5
Anonymous
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Re: Where can you apply for an USDA loan?

The direct loan is for "low income" and may be subsidized. It is made directly through USDA.

 

The guaranteed loan is for "moderate income" and is made by regular lenders, but guaranteed by USDA in the same way that the government backs FHA and VA loans.

 

The purpose of both is to provide affordable housing in rural areas.

 

You can find the qualified areas and income limits on the USDA website.

Message 4 of 5
WannaHouse
Valued Contributor

Re: Where can you apply for an USDA loan?

Here is the PA home page:

 

http://www.rurdev.usda.gov/pa/


Kathy


We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Message 5 of 5
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