USDA home loan Orlando – improvements & appraised value
Question: I was reading that USDA will lend up to the appraised value of my new home. If I purchase the home for $110,000 and the appraised value is $120,000, can I use the $10,000 difference to pay for improvements, etc?
Thank you- C. Holmes / Apopka ,FL
Answer: Thank you for your question. The USDA will only permit all USDA loan closing costs and prepaid escrow items (taxes /homeowners insurance) to be rolled into your loan – up to the appraised value.
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