USDA Rural Loan - Determine Maximum Monthly Mortgage Payment

Date: February 21, 2013

For Sale By Owner or FSBO transactions are real state sales transactions that don’t involve a Real Estate Listing Agent when selling a house. The theoretical benefit of a FSBO transaction is that that the buyer and seller can complete a sales transaction while minimizing the payout of a sales commission to a Realtor, which should allow the seller to more aggressively set the sales price of the house.

Since the seller and buyers are working without the benefit of a Realtor, knowing if a property is located in a designated No Money Down USDA Rural Development area is key to facilitating the sales transaction. Sellers need to promote to potential homebuyers the USDA Loan Program and buyers seeking the benefits offered by the USDA Loan Program should target homes in USDA designated rural areas.

For sellers and buyers engaging in a USDA Loan FSBO transaction working with a Loan Officer that is knowledgeable about the USDA Loan Program and doesn’t mind taking on some additional requirements normally handled by the Realtor. An experienced FSBO Loan Officer will assist in the transaction by:

Pre-qualifying buyers for purchasing a home using the USDA Loan Program
Determine the buyers closing costs and monthly payment
Provide sample real estate sales agreement
Explain what needs to be documented in a sales agreement
Directing the seller on ordering mandatory inspection reports, this may include termite reports, water tests, septic certification, etc.
If necessary provide validation to the seller of the buyer’s ability to complete the USDA sales transaction

At our Loan Officer's specialize in facilitating FSBO transactions financed by the USDA Rural Development Loans. To obtain a free report with your USDA FSBO homebuyer checklist please contact us at (866) 747-7227.

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