USDA Rural Housing Loans

[Beaners]

There were a couple houses that our family has looked at that qualify for USDA loans for rural development. If anyone has a low income for their area and is trying to find a home, you may want to check the program out. I had never heard of it before. We found that they would cover loans on houses that our lender wouldn't touch, particularly ones with septic or well water. You do have to have a lower income to qualify though.

http://www.rurdev.usda.gov/rhs/commo...m_info.htm#SFH

This was one of the only ways to get a mortgage on a house that wasn't on public water and sewer right now, especially if you don't have a huge sum of money on hand. Hopefully the information can help someone, I seem to remember someone buying a house through this program not too long ago with success.

Kayleigh

[mustangsally17]

Thank You!!

[chewie]

ha, funny you should post this--we are going thru a similar program right now. its not an easy thing tho., as with anything the govt. is involved with, its got a truckload of red tape to cut thru. here in sd, getting young families to stay in rural areas is getting tough since the older (affordable)homes are usually with land, and owners very seldom either sell or rent the home with enough land for a small homesteading situation, often not even the house itself. if you are lucky and are known for being decent you can sometimes get rent free tho., as those owning the houses do want someone in them. that is where we are right now--we managed this ranch for 9 yrs. and then suddenly, its for sale. we can live here, sort of like caretakers-for-rent. but this also means we have ppl around a lot, sometimes for more than 12 hours per day! i like my privacy so that is really hard for me.

many are living in mobile homes, and we may too if this program fizzles on us. so far, we feel we are very close to getting our house, put on our little acreage. we are going thru a program called 'govt houses'--the prison builds basic homes, small but extremely efficient, for less than we could even do it ourselves. prisoners learn trades, lower income families get homes, small towns keep populations. if it all works out, we should have a small cozy home with 3 bedrooms and a good basement by christmas. (pray for me!!!)

others who've use such programs that bought already existing homes had a much easier time with the red tape. we would've looked for one, but already own the land so this seems best. and really, we did look, to no avail--unless we were looking in town. (blah!) so anyone considering this route, be prepared for it to take a year, but it can work and you can get your own home.