Has anyone here gotten a USDA/RH mortgage? What was your experience like? - Mothering Forums

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#1 of 3 Old 11-17-2016, 09:35 AM - Thread Starter
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Has anyone here gotten a USDA/RH mortgage? What was your experience like?

I applied for one two weeks ago. Just wondering what to expect.

I am worried that if it isn't processed in time, the interest rate will go up. It's miraculously low right now. I guess there is no way to predict.

I wish this process were behind me! If it works out, my monthly housing payments are going to be much more affordable, and I can't wait...

- homeschooling mom to four teens
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#2 of 3 Old 11-18-2016, 03:37 PM
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I really hope it works out. I have a good feeling! I am not help though since I am not from the USA.
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#3 of 3 Old 12-31-2016, 05:47 AM
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I bought a house two years ago with the USDA direct mortgage. The only issue that I had was that they are quite particular with the inspection and the seller had to agree to fix certain things. Things that were not fixed I needed to fix right away but they did roll the money to do so into the mortgage. Some of the things seemed kind of minor, so it was annoying. They also accepted two contractors saying that some of the things that the inspector pointed out did not actually need to be repaired so it worked out. Clearly they don't people getting into issues with expensive repairs they can't afford, so while annoying, it is a good provision. The customer service has been quite good and all of the people who were involved in setting it up were really very nice to work with. Really stay on top of everything and you should be fine. I don't know how rapidly they change their interest rate, so good luck with that. I don't get the subsidy anymore as I have a better paying job now, but it was really quite a blessing.
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