Comments on: USDA Home Loan Program – The 0% Down Bonanza You’ve Never Heard About http://www.darwinsfinance.com/usda-rural-farm-loans/ Financial Evolution: Education, Adaptation, Achievement Mon, 06 Feb 2012 15:43:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: SEAN KUHNhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-26218 SEAN KUHN Thu, 03 Nov 2011 20:52:26 +0000 http://www.darwinsfinance.com/?p=1394#comment-26218 This loan isn't what its caracked up to be. When you are looking for a elidigble property do your homework. My wife and I found a beautifull home in the country which they claimed was eldigble for the loan, 2 weeks from closing they came back and said because the barn on the property was built in the 1900's they would not give use our loan because it may or may not house live stock and other animals. The kicker is that you can have a new or newer barn on the property and thats ok. I have mad several phone calls and it didn't do any good. The people at the main office in Indiana were very rude and not very helpfull, they acted like they didn't care. I would strees strongly do your homework but the problem is they really aren't very helpfull on giving out the rules and regulations they act like its a big seceret. also if you have a dispute with them on the property they don't even send out a person or persons to inspect the land they only go off pictures from your appraisal. I feel this is poor business practice but what am I kidding its our United States Goverment they always do the right thing YEA RIGHT . This loan isn’t what its caracked up to be. When you are looking for a elidigble property do your homework. My wife and I found a beautifull home in the country which they claimed was eldigble for the loan, 2 weeks from closing they came back and said because the barn on the property was built in the 1900′s they would not give use our loan because it may or may not house live stock and other animals. The kicker is that you can have a new or newer barn on the property and thats ok. I have mad several phone calls and it didn’t do any good. The people at the main office in Indiana were very rude and not very helpfull, they acted like they didn’t care. I would strees strongly do your homework but the problem is they really aren’t very helpfull on giving out the rules and regulations they act like its a big seceret. also if you have a dispute with them on the property they don’t even send out a person or persons to inspect the land they only go off pictures from your appraisal. I feel this is poor business practice but what am I kidding its our United States Goverment they always do the right thing YEA RIGHT .

]]> By: Bob Barberhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-8512 Bob Barber Fri, 17 Jun 2011 04:33:25 +0000 http://www.darwinsfinance.com/?p=1394#comment-8512 USDA Home Loan buyer beware. Read the fine print on your section 502 Rural USDA home loan. If anything happens to your income and you unfortunately find yourself in dire straits you will get NO relief from the mortgage company if the loan is a USDA backed loan. Thats because the mortgage company is going to get the full price of the loan from the foreclosure sale of the home PLUS the difference paid by the USDA. You, the original loaner will then be on the hook for the balance and the USDA will collect the debt from YOU!!!!!!!!!!!! First hand knowledge on this one. USDA loans aren't all they're cracked up to be. Good for first time home buyers as long as nothing happens to your income or your ability to pay the full mortgage in full. Read the 502 section of the loan program and see for your self. Then be very careful and very sure before you sign. USDA Home Loan buyer beware. Read the fine print on your section 502 Rural USDA home loan. If anything happens to your income and you unfortunately find yourself in dire straits you will get NO relief from the mortgage company if the loan is a USDA backed loan.

Thats because the mortgage company is going to get the full price of the loan from the foreclosure sale of the home PLUS the difference paid by the USDA. You, the original loaner will then be on the hook for the balance and the USDA will collect the debt from YOU!!!!!!!!!!!!

First hand knowledge on this one. USDA loans aren’t all they’re cracked up to be. Good for first time home buyers as long as nothing happens to your income or your ability to pay the full mortgage in full.

Read the 502 section of the loan program and see for your self. Then be very careful and very sure before you sign.

]]> By: Mark Engelkehttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-8488 Mark Engelke Fri, 03 Jun 2011 18:31:44 +0000 http://www.darwinsfinance.com/?p=1394#comment-8488 my and my fiance live in texas. we both have great jobs. we have been aprroved for loan but they say we make to much money. but we have no money for down payment. so pretty much people that have no jobs can get a place but hard working middle class cant. so the lower families get the loan and then they get it foreclosed on because they cant make they payment. now tell me that makes no sense. any ideas. my and my fiance live in texas. we both have great jobs. we have been aprroved for loan but they say we make to much money. but we have no money for down payment. so pretty much people that have no jobs can get a place but hard working middle class cant. so the lower families get the loan and then they get it foreclosed on because they cant make they payment. now tell me that makes no sense. any ideas.

]]> By: شاتhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-8371 شات Fri, 15 Apr 2011 19:46:29 +0000 http://www.darwinsfinance.com/?p=1394#comment-8371 <a href="http://www.p7bk.com" rel="nofollow">دردشة</a> دردشة

]]> By: Joel Lobbhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-8091 Joel Lobb Sat, 12 Feb 2011 01:48:44 +0000 http://www.darwinsfinance.com/?p=1394#comment-8091 Great Article about a program that is not very well known about. Great Article about a program that is not very well known about.

]]> By: Davidhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-8074 David Mon, 07 Feb 2011 04:29:29 +0000 http://www.darwinsfinance.com/?p=1394#comment-8074 What the blog is referring to is for home purchases in which the land value is less than 30% of the appraised value. This loan is available for single family, town homes, and even condominiums in designated USDA Rural areas. To see the specific county guidelines for income and geographic restrictions reference www.USDARuralLoan.com. What the blog is referring to is for home purchases in which the land value is less than 30% of the appraised value. This loan is available for single family, town homes, and even condominiums in designated USDA Rural areas. To see the specific county guidelines for income and geographic restrictions reference http://www.USDARuralLoan.com.

]]> By: Jameshttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-6777 James Mon, 20 Sep 2010 15:22:39 +0000 http://www.darwinsfinance.com/?p=1394#comment-6777 <a href="#comment-6375" rel="nofollow">@Mis sold Mortgage</a>, spot on! Mortgage advisers would often add on high fees for arranging the loans. Solicitors were equally as guilty, some even making-up quotes for home improvements in order to get a larger mortgage for the applicant, which would cover their own high arrangement fees. @Mis sold Mortgage, spot on! Mortgage advisers would often add on high fees for arranging the loans. Solicitors were equally as guilty, some even making-up quotes for home improvements in order to get a larger mortgage for the applicant, which would cover their own high arrangement fees.

]]> By: GLORIA DELLAFOSSEhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-6588 GLORIA DELLAFOSSE Sat, 07 Aug 2010 03:01:13 +0000 http://www.darwinsfinance.com/?p=1394#comment-6588 Hello, Please help us 0%down goverment home loan we don't have great credit we need all the help we can get. Hello,
Please help us 0%down goverment home loan we don’t have great credit we need all the help we can get.

]]> By: scampfarmerhttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-6429 scampfarmer Wed, 21 Jul 2010 19:33:35 +0000 http://www.darwinsfinance.com/?p=1394#comment-6429 Can you elaborate a little on where you found this info? We currently live in Florida, moved here from Ohio in 03 and are contemplating moving back to Ohio again. We'd like to start a small farm in the rural area I'm originally from, but have just been boggled as to how to go about it....I have searched the Farm Credit Bureau websites as well as the USDA in Ohio. The only loan info I came across on the website(USDA) said the program ended in 2005. Any new info would be much appreciated. Can you elaborate a little on where you found this info? We currently live in Florida, moved here from Ohio in 03 and are contemplating moving back to Ohio again. We’d like to start a small farm in the rural area I’m originally from, but have just been boggled as to how to go about it….I have searched the Farm Credit Bureau websites as well as the USDA in Ohio. The only loan info I came across on the website(USDA) said the program ended in 2005. Any new info would be much appreciated.

]]> By: Mis sold Mortgagehttp://www.darwinsfinance.com/usda-rural-farm-loans/#comment-6375 Mis sold Mortgage Mon, 12 Jul 2010 20:37:27 +0000 http://www.darwinsfinance.com/?p=1394#comment-6375 <a href="#comment-4377" rel="nofollow">@Mis sold Mortgages</a>, you have made a valid point here and reminds me very much of the Mis sold Right to Buy Mortgage scandal that has left the less well-off people in the country feeling ripped off by their mortgage broker and solicitor who saw an opportunity to take up to £15k out of the Government discount applied to ex-council tenants. @Mis sold Mortgages, you have made a valid point here and reminds me very much of the Mis sold Right to Buy Mortgage scandal that has left the less well-off people in the country feeling ripped off by their mortgage broker and solicitor who saw an opportunity to take up to £15k out of the Government discount applied to ex-council tenants.

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