USDA Home Loans, When Do You Need An Inspection

July 23, 2009 by Eleanor 1 Comment

USDA, 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

Filed Under: First Time Home Buyer, USDA Home Loans Tagged With: FHA LOANS, fha loans cary, fha loans raleigh, first time home buyer, first time homebuyers, inspection, nc, new construction, new home purchase, usda home loans, VA Mortgage Loan, warranties

About Eleanor

I see myself differently than most loan officers in the Cary/Raleigh market. As a rare Cary native, I see myself as an expert on the area, on mortgage industry changes & factors that effect rates! I've lived in Cary since 1968 - and I'm second generation "mortgage." I work with my husband, Steve Thorne Mortgage Loan Originator #60596 Equal Housing Lender More About Me