gale, Home Buyer in Ironwood, MI

I receive child support but in 8 months, she turns 18 leaving me with an income of only 1500/mo.

Asked by gale, Ironwood, MI Sat Nov 10, 2012

I am looking at the rural housing development option for a loan. I cannot wait until my child turns 18. At that time, I will be homeless to aquire a loan. Will the Rural Housing loan take into consideration the 12 month rule of income and debt ratios so I can apply now?

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0 votes Thank Flag Link Sat Nov 10, 2012
There are competent and expert loan officers in this forum. I am pretty sure someone can chime in.
Moreover, you can contact or interview local loan officers to discuss your options.
0 votes Thank Flag Link Sat Nov 10, 2012
Hello Maria and thanks for the reply.
I have contacted a few loan officers in the area I'm trying to purchase in but many have no clue about the rural type loans available or has even heard of them.
I need to find a lender that not only deals with the USDA Rural Development loan but also low cost (under 50K) mortgages.
Flag Sat Nov 10, 2012
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