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Does it have to be a nationally approved lender for USDA ?

by jeffbeadnell145 from Summerville, South Carolina. Apr 9th 2014 Reply


Larry Gray (lgray_312_247)
#597 ranked lender in California - 1,139 contributions

A lender simply has to be approved for USDA lending. A mortgage representativeor loan officer needs to be trained in handling USDA loans. The lender should beable to tell you if they approved for doing USDA loans in your State. We are approved nationally but I can only do loans in my state of CA.

Apr 9th 2014
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Kevyn Wagner (mrtgman)
#16 ranked lender in South Carolina - 9 contributions

Yes. Once a lender is approved with USDA that is a national approval. Although they do have to be licensed in each state and each state. We are a USDA direct lender and I specialize in SC USDA loans. Let me know if I can help. Kevin Wagner 704 315 7435.

Apr 9th 2014
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Ken Baltes (kbaltes)
#16 ranked lender in North Carolina - 242 contributions

A lender who originates USDA loans need not be a national lender. There are plenty of smaller regional(local) lenders who are better suited to do USDA loans because knowledge of the local real estate market is often helpfull. I do USDA loans in NC and SC. E-mail if I can help you. Ken Baltes. American Security Mortgage. kbaltes@1asmc.com

Apr 10th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,265 contributions

HECK NO.... any approved USDA lender can do a USDA loan. I do a lot of USDA loans, and we are only licensed in MN, WI, and SD... www.MortgagesUnlimited.biz/usda

Apr 10th 2014
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Jay Spurlin (CFCMortgage)
#45 ranked lender in South Carolina - 24 contributions

No, We specialize in Government loan. FHA-VA-USDA.Coastal Funding Corporationhttp://www.scgovloans.comhttp://www.fha-va-usda.com

Apr 10th 2014
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Pete Bass (PeteBass)
#30 ranked lender in Connecticut - 476 contributions

Your lender has to be approved for USDA lending- speak with your local community bank or a lender here on Lender411 who does USDA in S.C.

Apr 10th 2014
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

NO.. you only have to be a USDA approved lender, and anyone saying something different is lying to you.. however, I will say this.. your FAR BETTER OFF using someone local than a nationwide lender.. by dealing with someone local, if you have a problem, you can walk into their office.. and because they are local, the would be familiar with the local customs and intricacies, which will help your transaction go much smoother.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Apr 10th 2014
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Todd Glassman (Todd Glassman)
#1 ranked lender in South Carolina - 125 contributions

You do not have to be a national approved lender. As long as they are approved in your state of SC. We are approved in SC and are local to SC. Give us a call at 864-438-4550 to help you.

Apr 10th 2014
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Mike Silkworth (msilkw_195_870)
#31 ranked lender in Michigan - 527 contributions

Not all lenders can offer a USDA-Rural Development loan. This is a great opportunity to address an important issue when choosing a lender. Many will argue that a Bank - Direct Lender - or Broker is the best. I don't believe that is a a good criteria to use. The criteria I would always suggest is a lender that offers ALL loan products so they are able to choose the BEST loan type for your situation and a loan officer is "experienced" in structuring the best loan for your personal situation. Your Realtor is a great source for this.

Apr 12th 2014
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