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Old 10-03-2010, 08:09 AM
 
1 posts, read 1,199 times
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Looking at buying a brand new home, in this situation is there any real advantage to using a realtor as opposed to "going it yourself"?

Also this home is located in a new community that is USDA elligble. As of the last boundry definition by the USDA this community is across the street from not qualifying. So, does anyone know when they redefine the boundries for the property qualification map, IE: every 1 or 5 years or maybe even every census? This area used to be rural but it really isnt anymore. While it is far from a highly populated city it is not rural anymore, so i am just wondering how long until this option may be gone.

Also, what are the advantages to usda financing? I had a hard time finding the map but cant nail down any good info on the loan program. any help is appreciated.

Thanks for all help
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Old 10-04-2010, 08:03 AM
 
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I don't know anything about usda, but we used a realtor to buy a new house. They are there to protect your interests and you really have nothing to lose.
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Old 10-07-2010, 07:42 AM
 
91 posts, read 316,237 times
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indy5010,
Go to usda.gov. This site should tell you if you qualify for USDA. There are income guidelines per household. It is 100% financing. This means that you will not need a down payment to close. There again, there are some guidelines on that website that you will need to make sure you qualify. Also, there should be a map that will tell you for sure if the home qualifies for rural housing. Just put in the address and it will tell you.
And as far as your question about working with a realtor, they are there to guide you through the process plus to make it easier for you to relax. They are very informative. Especially if you are buying a new home.
Good Luck on your purchase!
JulieL
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