Updated over 7 years ago on . Most recent reply
USDA Multifamily loan
I’m in contract on a mobile home park that is eligible for a USDA loan. I have three questions for anyone who’s gone through the process:
- [Novice question] I see that the loans are 90% guaranteed. Does that mean it can be up to 90% LTV?
- How quickly can I get through underwriting, from start to finish? (I fear I may need to ask the seller for more time.)
- What would be considered a competitive range of rates in this environment? (I imagine this would depend on a number of factors, but I’m at a loss on what to compare a USDA-guaranteed offer against.)