Questions on USDA loans and student loans - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - Page 2 - City-Data Forum

mrileyoct1 · 10-06-2011, 03:02 PM

We are looking into trying for a USDA Rural Housing loan. I have the application here now. We are wanting to put this in juts my husbands name and leave mine off, first because I bring no income into the home, plus my credit has blemishes. I filed bankruptcy about 6 years ago and havent taken out any credit since then. I also have a few medical bills that are still lingering. So can we only list his information?

HOLLY MADISON · 12-03-2011, 04:33 PM

With the usda loan if your income increase do your mortgage payment increase as well or is it a fixed rate.

nmb30 · 12-06-2011, 12:40 PM

Quote:

Originally Posted by HOLLY MADISON

With the usda loan if your income increase do your mortgage payment increase as well or is it a fixed rate.

Hi Holly,

On a USDA Guaranteed loan your principle and interest payment will never change and yes, it is a 30 year fixed rate.