NC FHA Expert » new home purchase http://ncfhaexpert.com Helping NC's First Time Home Buyers! Fri, 03 Sep 2010 20:33:24 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 USDA Home Loans, When Do You Need An Inspection http://ncfhaexpert.com/2009/07/23/usda-home-loans-when-do-you-need-an-inspection/ http://ncfhaexpert.com/2009/07/23/usda-home-loans-when-do-you-need-an-inspection/#comments Thu, 23 Jul 2009 17:59:59 +0000 Eleanor http://ncfhaexpert.com/?p=167 $8000 Tax CreditUSDA, Rurual Development recently issued an announcement clarifying when they need all of the new construction documents for homes… and when they don’t.

If the home is less than 1 year old and has never been occupied, the home is considered a new home purchase.  New home purchases are subject to plan certification, specifications, inspections and warranties as defined in Administrative Notice (AN) 4414 issued January 5, 2009. 
 
If the home is less than 1 year old and has been previously owner-occupied, the home is considered an existing property and is subject to inspection noted in Administrative Notice (AN) 4364 issued May 7, 2008. 

If you are considering a home purchase, and need to know if that area is covered by USDA 100% Home Loans, please call us!  Steve and Eleanor Thorne, USDA Mortgage Specialist in NC!  919-649-5058

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