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Looking for a USDA Lender

I want to find a lender that is well verse in USDA loans for Maryland. I'm choosing this loan product mostly because I don't have any cash for a down payment. Seems like all of the banks process this type of loan, but they keep trying to tell me the FHA would be a "great option". I read too that USDA will take rental history to help meet the requirements?

I really just want to work with someone who works to meet my needs and will get the loan done. Any advice?
  • August 06 2013 - Accokeek
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Answers (7)

Mark Ebinger with MNET Mortgage is well versed in USDA. This is a great program for the right person. A professional lender should present you with all options and then you a the consumer should decide which program fits your needs best.
  • August 07 2013
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Mac Church Fidelity Mortgage, if you view my site he is listed on there as a preferred lender and you can click on the link to request more information from him. He is awesome with all loan products. I see why some lenders tell you FHA as FHA also has a 100% financing loan it is called FHA VHDA plus. that is where you will not have to come to the table with any money for downpayment. some will tell you to use that loan as the turnaround time is easier and faster then USDA. USDA can take anywhere from 60-90 days right now. I know a lender just did it in about 50 days.Please let me know if you need anything else.
Good luck
  • August 07 2013
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Not to toot my own horn or anything, but I have just completed several USDA loans in Maryland, Virginia, and Florida. The process is smooth, we have several USDA only underwriters that do an excellent job, and we even have good success working with the USDA folks when the review and underwrite the loan at the state level. MD USDA is running about a week, Virginia is running about 23 days, and Florida is running about a week for their underwriting of the file.
Feel free to contact me through my profile and I would be happy to assist you!
Best wishes for a smooth closing, Jim
  • August 07 2013
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If someone is trying to talk you into an FHA loan and you are eligible for a USDA loan, find another Loan Officer. USDA is a fantastic program. The problem is, most LO's are not familiar with USDA loans and they scare them away from doing them. Find someone who is confident about doing USDA loans and who will be looking out for your needs, not what is easy for them.
  • August 07 2013
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Mark Hines with 1st Mariner has been my go-to lender for the last 5 years.
He knows the program and keeps in touch throughout the process.
He is great with 1st time buyers too!  Just Google his name and 1st Mariner.
  • August 07 2013
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USDA is a great loan as long as your household income doesn't exceed the program guidelines. You must qualify for both the loan and the program. The property must also be in an eligible area. FHA may be a better option if your income is too high for the program, but if you can put at least 5% down, conventional loans have a lower mortgage insurance factor. The RIGHT loan is not hard and fast...a good loan officer should be able to review your situation to help you to determine which makes the most sense for you. All the best! Maryland Mortgage Mama
  • August 13 2013
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Another option that few people know about is the RD Direct loan.  You are not likely to find a lender who will point you in this direction because they don't get paid on this type of loan.  It is a Gov. subsidized loan for low income home buyers and requires the property to be in a rural area.  This loan is offered through USDA--contact them directly.

Good luck!

Natalie Filbert, Assoc. Broker, GRI
The Filbert Real Estate Group
Mountain Realty
  • August 13 2013
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