I’ve known for a few weeks now that my USDA Direct Loan was not going to pan out for this house and for me to purchase it, I’d have to take a different route to secure financing, effectively ending my relationship with RUPCO.
And I knew I’d have to tell them that.
Breaking up is hard to do no matter how you do it, and for me it has always been a source of anxiety. It doesn’t feel good to tell someone you were ready to make ‘a go of it’ with, ‘I’ve found something better.’
But every so often it must be said.
RUPCO is an awesome organization and I never would have even entertained the thought of buying a house had I not heard of them. I really thought I’d be buying a house with a USDA Direct Loan and getting ‘saved’ by home improvement grants that could turn my diamond in the rough into something that just needs to be polished.
I committed myself to calling Frank Robusto when my iPhone rang, with a Kingston number.
‘OK, just rip off the Band-Aid.’
I picked up the receiver and instantly remembered sitting down with Frank for the first time preparing to fill out all of the paperwork needed for USDA approval.
‘Just promise me, you’re not gonna drop this loan and take a different one,’ he said with half a smile on his face and half a serious tone in his voice, ‘We had somebody else get a USDA loan and then change their mind at the last minute. It’s like we did all that paperwork for nothing.’
“Hey Jenna. So did you decide what to do?”
“Yeah, I was actually planning on calling you. Um, I talked about it with my family and we decided to just take an FHA loan through our bank and go ahead and buy the house.”
“No, it’s ok. I could tell you really wanted it since you kept asking the USDA to re-run your loan eligibility numbers. And you sounded pretty down when they said ‘no’ the last time.”
“Yeah, and what solidified was that for me their criteria was a little too strict. I really didn’t think I was going to find a house I wanted to stay in long term that would meet their guidelines. And this was a house that felt like home.”
“Ok, well that makes sense, as long as you have a financial plan to make it work.”
“I do, and again, I’m so sorry. Once I started looking again [after the first time the USDA vetoed this property] I realized what you meant about working with people who fully understood the grant and loan products, but I really loved this house.”
Then I thought, since I am tanking an FHA loan, that RUPCO recommended and I was going through Ulster Savings, a bank RUPCO worked with…
“I know I canceled my First Time Home Buyers matching funds eligibility when I closed my account to pay off my credit card bill, is there any chance I could still apply for the home improvement grant funds.”
“No. once you opt out of a loan, that’s it with us.”
Well that’s it. I’m officially out of the RUPCO loop.
From here on out I will have to rely on my mom, Nickie and my own wits to navigate the remaining avenues of this process. Oh, and from now on I’ll have to talk myself down from a ledge.
I did however, promise Frank I would send him a confirmation of the sale once I close. RUPCO still gets credit for helping a first time home owner, even if they, like me, decide to go it alone.
It was the right thing to do. I just wish if felt better.