Home Buying in Erlanger>Question Details

jolene325, Home Buyer in Ambler, PA

Questions about USDA direct loan for my father.

Asked by jolene325, Ambler, PA Thu Mar 14, 2013

Hello. My father and mother have very low income. My father is a vietnam vet. who lives off about $1,000 a month from disability. They currently live in a very run down mobile home which has recently had electricity issues. As of right now, half of their mobile home is without electricity. I live in PA and I am trying to help them. I am limited with my resources as I am in school, but my husband and I are trying to figure a way to purchase a small house for them.

My questions is about the USDA direct loan. I am sure they would qualify in terms of income limits but see a problem with the credit history. They don't really have credit, and if they do, it is probably rather poor. There are several houses in their area for sale around $25,000 which are in much better condition than their mobile home. If they went for the loan, are they allowed to have a cosigner for it? Or is it possible they could get approved with no credit? Are there any other options? Please Help!!!

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