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USDA Updates

Best use of the land

USDA had distinct rules regarding the “Best use of the land” which means that if you are trying to buy a farm, commercial property, or any income producing property it would not be a good fit for USDA Guaranteed Home Loan. These types of properties do have programs specifically for them, such as a farm … Read more

USDA Back Log

USDA 100% loans have been way behind for the past 4 months or so and in an effort to get caught up, they will suspend accepting applications for 10 days at the end of November 2014. This is how they expect to get caught up on the 35 day backlog of files. USDA Guaranteed Home … Read more

USDA Income Limits

Double check income limits Did you know that there are different ways to calculate your income to see if you qualify for a 100% USDA home loan? Not all lenders know this so don’t be caught in the end of your purchase only to learn that you make too much and don’t qualify. It is … Read more

USDA Eligible Areas

Currently most of Oregon qualifies for 100% financing on a USDA Guaranteed home loan. USDA is using 2010 census bureau population numbers to keep allowing for those purchases. This is how USDA is providing a free government incentive to allow more homes in rural areas to qualify for lower income buyers, and not allow the … Read more

USDA Eligible Areas

There have been many times where a property is located in an area not normally eligible but is, as it can be as little as 500 feet from the allowed city limit, and still be fine for USDA’s 100% – Zero Down home loans. In the past few years, there were cities that were going … Read more

USDA Direct Program

Apply with us for USDA Guaranteed Home Loan NO DOWN Payment. Another program, USDA Direct is about a year and a half on a waiting list for potential home buyers. Do not wait – Call Me Today! There is no waiting for USDA Guaranteed Home loan and the income limits are also higher so more … Read more

Double Check Property Eligibility

There have been many times where a property located in an area not normally eligible but is, as it can be as little as 500 feet from the allowed city limit, and still be fine for USDA’s 100% – Zero Down home loans.  In the past few years, there were cities that were going to … Read more

USDA vs. FHA

Do you know what the difference between USDA and FHA? With FHA you will have mortgage insurance or PMI (private mortgage insurance). Home loans with less than 20% down-payment will have some sort of PMI. At the time of this writing FHA PMI is at 1.35% per Month vs. USDA at 0.50% per month ~ … Read more

Property Must Qualify

For USDA loans, not only does the home buyer need to qualify but also the home / property needs to qualify. For the buyer to qualify they will need to have their income evaluated to be sure they are qualified under the income limits for their specific area and family. For the home/area to be … Read more

The Home must qualify for USDA too!

For USDA loans, not only does the buyer need to qualify, but also the specific property needs to qualify for the loan. For the buyer to qualify they will need to have their income evaluated to be sure they are qualified under the income limits for their specific area and family. For the home/area to … Read more

Contact Info

Apply On-line 24 hours a day with our local Company

Rock River Financial
388 State Street #445
Salem, OR 97301

Office: (503) 316-8000
Fax: (503) 316-8004

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