USDA Rural Development Mortgages

[randomthoughts1875]

Does anyone have any experience with this type of a program? It is typically reserved for those with lower incomes although I believe the income guidelines cover most blue collar incomes. DH and I are preparing to take a homebuyers education class and are trying to learn as much about this program as possible in advance.

[SageMother]

I hadn't heard about this program. Do they provide grants to help you rehabilitate older homes? If they do then don't pass up the chance. Grants are free money!

[randomthoughts1875]

I'm not sure if they offer grants or not but, it would certainly be well worth looking into! There are so many helpful government programs out there that too few people are aware of.

[SageMother]

Quote:

Originally Posted by randomthoughts1875

I'm not sure if they offer grants or not but, it would certainly be well worth looking into! There are so many helpful government programs out there that too few people are aware of.

If you find out you really HAVE to come back and tell us all about it! I am always interested in programs that help people improve their quality of life.

[randomthoughts1875]

I'd absolutely be thrilled to share with all of you anything I learn! To give you a head start, in case you want to do any research on your own, this program is offered through our local Community Action Partnership. I'm not sure if these are in every state or not but, the offer a wealth of information on all things financial.

[moonmagick]

I haven't heard of these either, unless it is something like an FHA loan. My sister is a single parent and she got an FHA loan for her mortgage. It had stricter guidelines on what the condition of the house could be in, and a lot more red tape, but she got a much better rate than she otherwise would have gotten. I think she also looked into going through HUD.