Contributor
massagemama
Posts: 80
Registered: ‎01-15-2008
Re: USDA Direct Loan possibility

You sound like the perfect candidate for a Direct Loan.

May I ask what County and State you are in?  I might be able to get a better idea of how much you might qualify for.  Do you have any idea what property taxes and hazard insurance are in your area?

 

One thing that's going to help you is that your income is from child support and SSI, which are untaxed, so USDA can "gross up" those amounts by 20%, making you eligible for more.

 

I'll be happy to help you.  I'm in the middle of a Direct loan right now.  :-)

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3/27/09 Mortgage Application:
Me: EQ 691 EX 659 TU 714
DH: EQ 670 EX 677 TU 702