256 days to CLOSE USDA Direct, My Experience.

[Anonymous]

8/2/2019 CLOSED! I went into the title company at 9:00 AM, and 25 signatures and 10 minutes later I was a homeowner!  It was recorded that afternoon and all things are good. 256 days total. 

Purchase Price: $250,000

Total Note Amount: $258,000 (with closing costs, dishwasher, and new flooring included)

Appraisal: $268,000

Interest Rate: 3.125%

Monthly Payment w/ subsidy: $989

[stinastina]

Congratulations ! Enjoy your new home !

[Anonymous]

I'm hoping you are still getting notifications from this board. What were the terms of your loan if you don't mind me asking? Did you have the 33 or 38 year term and would you mind letting me know what your payment is without the subsidy and the payment that you posted with the subsidy included did that also include the taxes and insurance payments?

[Anonymous]

My loan term is 33 years.

My $989 payment includes my homeowners insurance and property taxes both paid through my escrow account.

I am unsure of what my payment would have been without the subsidy, I tried to ask but they said choosing to not take the subsidy wasn't an option. 

[Anonymous]

Hi, my 1st year my payment with subsidy was 939.00. When I had to requalify in Dec. for the next year I had more income so it went down to now my payment is 1144.00. Without my subsidy my house payment would be 1272.00 both included home owners insurance and property taxes. When I did all my paper work I was told I didn't have to take subsidy just know what you take from what they told me you will be paying backp. I also qualified for the 33 years. Hope this is helpful.