USDA loan-No closing costs?

[JMMD]

I know the USDA guaranteed loan is no down payment but are there closing costs? If so, can you roll those into the loan or have the sellr pay them?

Thanks!

[VALoanMaster]

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@JMMD wrote:

I know the USDA guaranteed loan is no down payment but are there closing costs? If so, can you roll those into the loan or have the sellr pay them?

Thanks!

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Hi JMMD,

Yes, there are closing costs & yes they can be paid for by the seller or you can finance them into the loan as long as the appraised value supports it.

For example: If your purchase price is $200,000 & your closing costs are $5,000, the house would have to appraise for at least $205,000 in order to roll the closing costs in.

[JMMD]

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@VALoanMaster wrote:

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@JMMD wrote:

I know the USDA guaranteed loan is no down payment but are there closing costs? If so, can you roll those into the loan or have the sellr pay them?

Thanks!

---

Hi JMMD,

Yes, there are closing costs & yes they can be paid for by the seller or you can finance them into the loan as long as the appraised value supports it.

For example: If your purchase price is $200,000 & your closing costs are $5,000, the house would have to appraise for at least $205,000 in order to roll the closing costs in.

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Thank you!