Home Buying in Prairieville>Question Details

Lauren5, Home Buyer in Prairieville, LA

I applid for RD loan in July. Got approved. Then were told funding out, then by Oct we were told to change FHA. Now I hear RD back, we got screwed?

Asked by Lauren5, Prairieville, LA Fri Jan 7, 2011

Why did we not get to take advantage of that loan and then 2 months later, our friends are getting approved and have closing dates?

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In all reality you probably did not get "screwed" by your lender. I am in the mortgage business and the RD program is a federal program funded by the government. I dont remember the time frame last year but there was a time that the program ran out of money...and no matter what lender you used, if the rd funds were not available you could not get the rd loan. However, more funds were put into the RD program later in the year making the program available again. The only thinkg you could have done differently is wait until the program was funded again.

Have you bought your home yet?
0 votes Thank Flag Link Mon Jan 10, 2011
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