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Updated over 9 years ago on . Most recent reply
USDA Loan
I have been reading a lot of conflicting info on a USDA Loan, I was hoping to clarify some different aspects of the loan.
-I have read in some places that you can only utilize this loan for a single family house and I have read in other areas that you can indeed use it to purchase a Multi Family Residential. Could anybody help me that has experience either way?
-Is it absolutely essential that I have 2 years work history (W2) to obtain this loan? Is it possible to obtain it after just 1 year of work history or less than 1 year?
-Also, if it mandatory to have 2 years of work history, is it possible that I obtain a cosigner on this loan? My cosigner would be someone who makes 6 figures a year, would this disqualifying me from qualifying from my income if they were just a cosigner not occupying the property?