USDA loan won’t allow sale

[Ryan Davidson]

Hello all! I have found a medium multi family that is off market at this time. Owners are trying to sell but, are telling me USDA won’t allow them to sell. Question is why would USDA not allow a sale? Can they keep you under contract? The property does use subsidize housing assistance. I was told their USDA loan doesn’t mature until 2030 and won’t allow them to sell or pay off early.

I just asked about owner carry (waiting on a reply)

Also, what other creative ideas could I use?

[Caroline Gerardo]

A ONERD loan? Housing Finance Second? DAP 3rd? My guess is they can pay off BUT there is a prepayment penalty of like 2.5% ? Ask them to show you the note(s) they signed. If you need help reading and interpreting, just whistle