How long does a person have to stay in a USDA loan, before they can refinance with another mortgage company?

Answers:1   |   LastUpdateAt:2012-08-08 11:13:03  

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Asked at 2012-08-07 00:10:46
The individual loan took a long time ago when she was a struggling single mother . Now she is making around 80K a year and doing very well. Want to refinance to consolidate debts into one low interest loan low fixed payment . Mortgage companies will not touch any of your existing loan due to the fact that it is a USDA loan .
Answer1GeovandaAnswered at 2012-08-08 11:13:03
Sounds like you are in a government program . Many banks will not touch these loans because they are risky. So the government makes taxpayers flip the bill.

Check with other lenders.

http://www.fsa.usda.gov/FSA/webapp ? = area
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