Jenny, Home Buyer, Pocono Lake, PA
I thank you so much, for your help, you have helped me a lot but speaking to someone further on this, it looks like the USDA is not much cheaper out of pocket then FHA. It looks like I would still have to come out of pocket 8,000 for taxes.
I don't know who told you that but they were wrong. Taxes are included in the closing costs so you will pay them regardless of the type of mortgage you use. In addition to that the property taxes are prorated so the seller pays them up until the actual closing.
As I pointed out earlier, the USDA program is going to save you at least $194 per month & with FHA you would need a down payment of $8,575 which USDA doesn't require.
The home you're interested in doesn't look like it's that rural, it looks like there are neighbors pretty close by. Take a look at the map tab on the listing.
Senior Mortgage Banker
Peoples Bank & Trust