topic Re: USDA Direct loan in Mortgage Loans

USDA Direct loan

Anonymous — Sun, 27 Jan 2019 03:29:53 GMT

I went to the website and checked to see if I was eligible, and I was. But my question is, the current housing situation. It says I need to be without a decent, sanitary, and safe home. I am renting and the apartment is ok but I would like to but a home with girlfriend. She cannot move into this apartment because we “make too much”.
Also I have a savings account because we have been trying to save for a home, will that cause any issues?

Re: USDA Direct loan

Anonymous — Wed, 13 Mar 2019 11:14:35 GMT

I see no one has responded to you yet. I'm in the beginning phase of the Direct loan process myself and from what I've gathered about being without a "decent, sanitary, and safe home" only applies to those who already live in a home and are looking to rehab their existing home. I wish the USDA would clarify this too because almost did not apply because of this. Good luck to you!

Re: USDA Direct loan

stinastina — Fri, 15 Mar 2019 03:37:04 GMT

thanks, @Love4africa22 - when I asked my loan packager he said that people who were without were given priority status for the loan and the rest of us would receive funding after, if still available.

@Anonymous wrote:
I see no one has responded to you yet. I'm in the beginning phase of the Direct loan process myself and from what I've gathered about being without a "decent, sanitary, and safe home" only applies to those who already live in a home and are looking to rehab their existing home. I wish the USDA would clarify this too because almost did not apply because of this. Good luck to you!