usda redrawing eligibility lines

Signed contract in April for new construction with USDA loan at a 3.25% interest to be completed in interest rates for jumbo USDA at 4.75% (or more) and lines being redrawn for USDA....Could not submit paperwork before September 30th to be grandfathered in with USDA as unborn baby (due to be born end of November)can not be counted as part of household and is needed for the income limits...LOST HOUSE and already sold townhouse in June. back to square one and with baby coming....this whole housing situation is just.............I dont even know what to say.....any ideas anyone out there.....

1 Answer

You could have your lender try FHA for you. Also, rates just came back down today after the Fed's meeting. Don't get discouraged. You will find the right home, just make sure you are more than comfortable with the mortgage payment, you don't want to be 'tied' to your home. I don't know where you live, but you don't have to only try USDA for the financing. Seek an experienced loan officer and see what your options are! Dan