QUESTION: I’m looking to purchase some investment property in the Gainesville Florida area (Alachua County) Does the USDA permit this? If so, can you please advise me on the requirements?
D. Walton – Ocala, FL
ANSWER: Thank you for posting, we get this question a lot. Like all government home loan options, the USDA only permits primary, owner occupied homes. No investment property purchases or second home purchases can be used with the USDA home loan. However, do keep in mind the home buyer is NOT required to be a first time home buyer to utilize the USDA mortgage. I hope this helps.
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