Does anyone have experience originating USDA loans? I'm looking to purchase a strip mall in rural area and working with a lender who is quoting around a 6% on a 30 year loan for $2M at 80% LTV. I think this is quite high for a USDA guaranteed loan and have been searching online to find out more. Unfortunately its hard because not much info on rates is published online.
So my question for this forum is, how can I research interest rates on USDA loan and ensure I'm getting a fair deal and not being over charged or being taken advantage of?
