You can do a lot with the USDA loan, which many people don’t realize
It’s a common myth to believe that you can only buy an existing home with this loan program. In reality, you can even buy land with it. However, you will need to have plans for that land. You will have to build a home on it pretty much right away in order to qualify for USDA financing.
Finding the Right Land
Just like buying a house with USDA financing, you have to find the right one. Just as the USDA requires homes to be modest in nature, the same is true for any lot you purchase. It must be within the average size for the area. It can be smaller than that, but it cannot be larger or considered luxurious. » Read more