My spouse and I are interested in purchasing an older (“historic”) home in an elligible rural area. We have been prequalified for an amount which covers the 140k purchasing cost of the home which a family currently lives in. However the selling agent does not want to show us the home because she says it will not qualify for USDA. The home is older but in livable condition and based on my reading through the handbook and requirements the only thing that might be an issue is the lack of central heating and cooling – but the home has window units AND fireplaces. The lender we are working with said initially that the requirements weren’t strict but is now saying that the home essentially has to be move in ready to be approved.
Has anyone had experience with this – and should I just write off being able to buy a more historic (and thus older) home on USDA 502?
Thanks in advance.