how long after i transfer a home out of my name can i apply for a rural development loan? can it be the same day as my closing?
1st time i apply for a rural development loan and i just found out i can have only 1 home in my name and i'm suppose 2 b closing on a new home tuesday. Can i transfer the old home in my daughter name on the same day as i am schedule to close to still qualify for the rural deveopment loan? by ttvjo11 from Baton Rouge, Louisiana. May 29th 2011
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Great Question: As long as you are selling the home outright with no mortgages attached to your name- then you should have no problem applying for a rural development home loan or USDA loan the minute after the closing takes place and the new loan has funded. Let me know if you need any help moving forward.
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