Looking for a USDA Mortgage Company?
To obtain a guaranteed USDA loan you must work with a USDA Mortgage Company. The US Department of Agriculture offers a direct loan for low income families and you must obtain the loan directly from them. Contact your local office for more details.
USDA Guaranteed Loans are provided by private banks and mortgage companies and guaranteed by the US Department Of Agriculture. More info and the USDA Guidelines are here. USDA provides a national list of all approved lenders and mortgage companies that are certified to produce USDA Rural Development Loans.
Applying For A USDA Loan
In order to apply for a USDA Guaranteed Loan you must contact a USDA Mortgage Company who offers them in your state.
Your application, approval and funding of the loan will be provided by the USDA mortgage company and they will submit your loan for secondary approval through your local USDA Office.
There is a separate approval process through your designated USDA Rural Development Office. In Maryland there are two offices, one USDA Rural Development office is in Prince Frederick and the other USDA office is in Haggarstown.
The location of the house you are purchasing will determine which office will approve your loan. The first thing you do is call a USDA specialist and speak with them to determine if a USDA loan is the best choice for your needs and then determine if you qualify.
Once you have chosen to obtain a USDA loan your lender will initiate the underwriting process. Once approved the loan package is mailed to your local USDA office and they provide a secondary approval.
USDA Mortgage Company
When choosing your USDA mortgage company, its important to know that they are familiar with USDA loans and do them regularly as the guidelines change over time. Ask them how many USDA loans they have closed in the past year and how long it will take them to close your USDA loan. If they say longer than 30 days, move on. Some of the other questions you might ask is if they have in-house underwriting and in-house processing. Ask them to educate you about the guidelines and why its the best choice for you. Chances are that if they cant teach it to you, they done know it.
Brian Mayer USDA Rural Development Loan Specialist
If you would like to work with a USDA Loan specialist who closes the majority of their loans as USDA loans, I would love to earn your business.
As a USDA Loan Specialist
I will educate you on everything you need to know about USDA loans and if one would be the right choice for you.
I work with majority first time homebuyers and know that patience and education are what you are looking for in a lender.
I will take the time to make sure you feel 100% comfortable with your choice for your first mortgage loan.
I am available when you need me after hours and weekends and will work closely with your Realtor to ensure you get to the closing table on time hassle free.
When choosing a USDA Mortgage Company dont play around choose a pro!