Usda - Home Inspection Requirement

[Mr Rex]

IIRC this is not a new requirement. Direct requires a Home Inspection, Guaranteed an FHA roster appraiser.

 

[apt20]

Source? ^ not discrediting you in any way, just curious. Also can you elaborate the difference btw the two for discussion sake. Thanks

The email ICAP sent says as much, and the link to the announcement says it as well. The guaranteed program most of us do work for is similar to FHA and a lender is involved. The direct loan program has no lender involved, and is handled by the USDA RD office and a contracted or staff appraiser.

 

[apt20]

IIRC this is not a new requirement. Direct requires a Home Inspection, Guaranteed an FHA roster appraiser.

RD does not require a FHA roster appraiser in Illinois.

 

[Vermonter]

The email ICAP sent says as much, and the link to the announcement says it as well. The guaranteed program most of us do work for is similar to FHA and a lender is involved. The direct loan program has no lender involved, and is handled by the USDA RD office and a contracted or staff appraiser.

That makes more sense.

Good to know tho, I do get a handful per year from the USDA office.

 

[Netig]

The email ICAP sent says as much, and the link to the announcement says it as well. The guaranteed program most of us do work for is similar to FHA and a lender is involved. The direct loan program has no lender involved, and is handled by the USDA RD office and a contracted or staff appraiser.

Thanks for clarifying. Interesting topic indeed. USDA is a great program from what i see in my area.