Massachusetts Continuing Education Course: USDA/Rural Loans

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Massachusetts Continuing Education COURSE

Massachusetts CE:USDA/Rural Loans

USDA/Rural Loans

2.0 Total hours
0.0 Elective hours
2.0 Module hours

The U.S. Department of Agriculture (USDA) loan program isn’t well known—but it should be. It’s a 15- or 30-year fixed rate loan available to low-income and moderate-income rural and suburban homebuyers. Contrary to what many assume, USDA loans aren’t just for farmers. As with VA loans, USDA loans are issued by qualified lenders and guaranteed by the government—in this case, the Department of Agriculture. This course offers a thorough look at the ins and outs of the USDA rural development lending program—covering everything from income eligibility to property criteria—so that licensees can help their clients understand and navigate this unique road the home ownership.

This two-hour course helps consumers by ensuring licensees are better prepared to assist and support clients interested in securing a USDA guaranteed or direct rural home loan.

Course highlights include:

  • A review of the origination of the USDA and its development to the present day.
  • A look at the differences between USDA guaranteed and direct loans.
  • An overview of income eligibility requirements and qualification ratios.
  • A discussion of buyer safeguards, seller contributions, closing costs, funding fees, and loan assumptions.
  • A look at eligible and ineligible properties and the appraisal process.
  • A review of key steps related to processing, underwriting, and closing rural development loans.
  • Interactive activities and scenarios to seal in the new information and frame it in everyday context.