Good or Bad Time to Get Federal Loan??

[Anonymous No.18407835]

I've been waiting like ten years for the opportunity to buy some land and build a small house. Is now a good time to reach out to a lender about getting a USDA loan? Apparently I'm potentially eligible for a ~$78k guaranteed loan with zero down payment, according to this website: https://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program

Anyone done one of these? I've heard wildly varying reports about how this corona business is affecting lending attitudes, but I'm hoping that the sharp downturn in applications over the last month might encourage some lenders to take a bet just to retain any kind of cash flow. I have zero personal credit [as far as I know] because I've never had a personal credit card, but I do have a rock solid history of paying rent and utilities as well as about $5k in cash saved up.

[Anonymous No.18407860]

>>18407835
I'm in the same boat, applying to all the state/fedbux giveaway programs.
My take on it is apply now so that you can pull the trigger whenever you need to, then wait a few months and keep an eye on local real estate. With so many people out of jobs and unable to pay, prices are probably going to dip down quite a bit.

[Anonymous No.18407882]

>>18407860
Since I want to apply for the guaranteed loan and not the direct, should I be reaching out to eligible lenders directly and asking to be considered? I'm just not even sure how to get in touch with anyone that would toss me $78k, especially with my credit history

[Anonymous No.18408008]

bump

[Anonymous No.18408218]

Any other takers?

[Anonymous No.18408637]

Hey fags why don't we stop talking about crypto and talk about something else