Buying a home requires a small leap of faith that all will work out in the end. Speak candidly to your agent about your concerns.....and be sure to provide all information requested by the Loan Officer as quickly as possible. They will ask for lots of paperwork, including some duplications shortly before settlement to reconfirm you are still working etc etc.
As with any home purchase, be prepared for a bit of a roller coaster ride, but as long as you are doing what is asked of you, and you are reasonable with the results of the the inspections, you should end up with a successful transaction and move in on schedule.
Go for it !!
Best of Luck;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair
Ex-Mortgage Banker of 10 years
1. Your income needs to be low enough to warrant the USDA subside.
2. The USDA loan is subject to USDA funding. This is the big thing. Once qualified,
it does not assure you that the money will be available. You will only know that after making full
3. Your income can be reviewed ever 4 years (I think its 4), and if your income goes up, the USDA subside will decrease. (ie. you monthly payment will go up.)
4. The USDA loan has specified geographical areas where the properties must be. These areas can be found on a locator map on the USDA web site.