Primary Residential Mortgage, Inc.
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The USDA Loan has become very popular for borrowers and a go-to loan product for many lenders. There are a number of tools available to lenders who offer the USDA Home Loan. Most all lenders use several different tools and platforms of their own, however, one of most useful tools available to lenders when doing a USDA Home Loan is the Rural Housing Eligibility map often referred to as USDA Loan Map.
The USDA Loan Map is not only a great resource for lenders, but real estate agents find it very helpful as well. They use it to find homes for borrowers in areas that qualify for the USDA Loan. Without the map, it would be difficult to determine if a property is in an eligible area. Since the eligible areas are population-based and not county specific, agents must have a resource like the online map in order to identify qualifying areas quickly. Borrowers often lack the necessary funds for down payment so it’s imperative that they use a USDA Loan.
The USDA Loan Map is a necessity for lenders. It is becoming more common that borrowers get pre-qualified before actually looking for a home. With the map, a lender or real estate agent can help a qualified borrower identify areas that they need to shop in order to obtain a USDA Home Loan. If a borrower comes to a lender with a specific home in mind, the lender can quickly determine if that property is eligible. This tool helps save time and avoid unneccessary frustration.<< Back to the list.