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PROPERTY REQUIREMENTS
NEW CONSTRUCTION AND EXISTING HOMES |
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NEW CONSTRUCTION -- Prior to issuance of the loan note guarantee, lender must certify that the following certifications, inspection reports and warranties have been obtained by the lender and are satisfactory:
Construction Inspections -- Certification that foundation, framing and final inspections have been completed in compliance with local and state requirements and codes.
Builder's 1 year Warranty or 10-year Homeowner's Warranty -- If 10 year warranty is provided, the foundation and framing inspections a waived.
Permits and Clearances
Notice of Occupancy and Certification of Occupancy
Well and septic certifications for local health authority or private licensed firm.
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EXISTING HOMES |
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All existing homes ( 12 months or older ) must be structurally sound, functionally adequate and placed in good repair prior to the issuance of USDA's loan note guarantee. The following documentation and certifications must be submitted to USDA Rural Development prior to the issuance of the loan guarantee:
For All Existing Homes:
Termite report and clearance (Section 1 items to be cleared. Section 2 items to be completed only when a health and safety is issued.)
Signed certification from qualified inspector that the home meets the requirements contained in USDA Rural Development " Existing Home Certification ". Inspection completed by individual determined qualified by lender. Also acceptable is a Valuation Condition (VC) Form prepared in accordance with HUD Handbook 4150.2 for existing home inspection compliance.
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USDA Home | Calculators | Eligibility | Credit Reqirements
Property Requirements | Eligible Areas | Location | Contact
55569 29 Palms Highway
Yucca Valley, CA 92284
Direct Line: (760) 228-2076
Fax: 760-228-2319 Cell: 760-401-2638
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Licensed under the Dept of Corporations
www.mortgageloanking.info online from 2000
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