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A Farm of My Own:  I might get a house!  |
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Alee
True Blue Farmgirl
22941 Posts
Alee
Worland
Wy
USA
22941 Posts |
 Posted - Nov 19 2006 : 08:13:03 AM
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Hi Ladies!
I am young and I don't have a career yet so I don't make a lot of money. So a friend told me about a government program through the USDA called the Rural Development Program.
Basically the website says that the USDA realizes that rural communities create a large number of low paying jobs, hence a lot of people who can't qualify for adequate housing through traditional means.
So what the Rural Development program does is it helps people who fall under certain economic limits to buy a house!
The website is http://www.rurdev.usda.gov/rhs/
I talked to our local lady in charge about it. They look at your credit and your earnings and help to figure out what you can truly afford. They also are very picky about the house they will let you buy. They inspect things like the foundation, roof, plumbing, electric.... because as she said- if you don't have the money for a down payment- you won't have the money for repairs.
So anyway- even though I make less than 30K a year, I might be able to move into a house! I am really excited!
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asnedecor
True Blue Farmgirl
1054 Posts
Anne
Portland
Or
USA
1054 Posts |
Posted - Nov 19 2006 : 08:23:41 AM
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Alyssa -
Thanks for the information. I have a home but I work with a younger co-worker who is getting married soon and she and her fiance don't make much and would love to own a home. So I forwarded the information to her.
Thanks.
Anne in Portland, OR
"Weeds are flowers too, once you get to know them" Eyeore from Winnie the Pooh
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willowtreecreek
True Blue Farmgirl
4813 Posts
Julie
Russell
AR
USA
4813 Posts |
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~Tracey~
True Blue Farmgirl
351 Posts
Tracey
TN
USA
351 Posts |
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MsCwick
True Blue Farmgirl
775 Posts
Cristine
Farmville
Virginia
USA
775 Posts |
Posted - Nov 19 2006 : 9:53:51 PM
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| I have a loan through a lender just like that. There is a lot more paperwork, but these loans are also adventageous because unlike conventional loans, they do not require as much of a down payment. I think mine was about 3% down. Where most charge 5-10%, somtimes even 15% down!! You will have to pay closing costs upfront though. They will not include them in your loan, so I lost $3600 for surveys, lawyers, etc. Best of luck. I hope it all works out for you. |
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Past Blessings
True Blue Farmgirl
1083 Posts
Brenda
Orchard Prairie
WA
USA
1083 Posts |
Posted - Nov 20 2006 : 07:52:03 AM
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How exciting for you! I pray it will all work out for you!
Brenda
Past Blessings . . . Celebrating Life as it used to be . . . when people loved God, loved their families and loved their country. |
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Miss Bee Haven
True Blue Farmgirl
4331 Posts
Janice
Louisville/Irvington
Kentucky
USA
4331 Posts |
Posted - Nov 20 2006 : 07:53:52 AM
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This sounds like a great program, Alee. Good luck with this and keep us posted. Hope it works out for you.
"If you think you've got it nailed down, then what's all that around it?" - 'Brother Dave' Gardner |
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blueroses
True Blue Farmgirl
1323 Posts
Debbie
in the Pandhandle of
Idaho
USA
1323 Posts |
Posted - Nov 20 2006 : 08:59:36 AM
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Alee,
That sounds wonderful. Let us know how this goes.
"You cannot find peace...by avoiding life."
Virginia Woolfe |
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Nance in France
True Blue Farmgirl
1438 Posts
Nancy
St. Laurent de la Salanque
France
1438 Posts |
Posted - Nov 20 2006 : 09:17:33 AM
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| Great news, Alee! Good for you and got my fingers crossed for luck. Nance |
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A Farm of My Own: I might get a house! |
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I might get a house!
