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Usda home loan?

Any one have one? Or in process of doing it? Are your payments very high? Just wondering because I have been looking into it.

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Anonymous

Asked by Anonymous at 4:10 AM on Apr. 2, 2011 in Money & Work

Answers (5)
  • I thought USDA had something to do with meat?
    louise2

    Answer by louise2 at 6:40 AM on Apr. 2, 2011

  • United State Department of Agriculture.
    meooma

    Answer by meooma at 7:56 AM on Apr. 2, 2011

  • I've had two in my lifetime, but one was twenty-five years ago and one was fourteen years ago. My highest ever payment was $425.00. They do work with you on your payments to income ratio, but from my current understanding, you need to have near perfect credit and somewhat of a down payment. Please remember when you are thinking of buying a home right now, that property taxes are going to do nothing but increase.... Lots of people are thinking about that and going to try to sell these days.
    m-avi

    Answer by m-avi at 9:46 AM on Apr. 2, 2011

  • We looked into getting one and would have if we had not found a perfect house in the city limits. My husbands cousin is looking into getting one right now. If I remember correctly your credit score has to be 620 or higher and It has to be outside the city limits.
    kc932

    Answer by kc932 at 12:16 PM on Apr. 2, 2011

  • We had one when we first purchased our home but we have refinanced since then. You don't need to have a down payment and the rates are very comparable with FHA rates. I am a mortgage processor so if you have any questions feel free to send me a message.
    Kari126

    Answer by Kari126 at 8:30 PM on Apr. 2, 2011

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