How the condition of your home affects qualifying for a USDA loan

Are you ready to make an offer on a home that will be financed with a USDA Loan? Before you make an offer make sure that the home you want to buy will qualify for USDA financing!

While the home you wish to buy does not need to be perfect, it does need to be livable. While the term ‘livable’ can be broadly interpreted, USDA RD Loans offers some direction to help you determine if your home is livable.

Items that would disqualify a home from USDA Financing include:

  • Roof with three years of economic life remaining or in state of disrepair
  • Missing plumbing (including items such as a hot water tank)
  • Missing carpet or tile
  • Missing (or broken) furnace or heating unit if you live in an area with cold weather
  • Safety concerns

Items that generally would not disqualify a home from USDA Financing include:

  • Out-of-date design
  • Dirty or old carpeting and walls
  • Older, less efficient windows and doors

While these lists are not all inclusive, they are a good starting point to determine if your home is eligible for a USDA Loan.

 

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