FREAKING OUT anyone ??

[Anonymous]

Our house sold over the weekend, well we have a contract and are to close march 20th they wanted sooner but that is all we could do.

We are PRE-approved through USDA with scores of    665-672-703    747-692-665   everything SEEMS fine but We had mortgage lates showing in 2008 it has now been a year and 2 30 day lates on a credit card in july and aug of 08 because I was put in hospital on bedrest for early labor that card was not on auto pay it got missed trying to save my son......

Point is I am terrified that PRE-approved will turn into POST-DENIAL we have a contract on a house and are all set it will be thursday before we get final approval or denial! I am sick at my stomach I just know how things can go wrong! We are well over the majic 620 USDA # plus even over the happy 660 # but I cant shake the feeling I will be homeless!!

Any advice LOAN guys what do you think. It is Chase bank under writing the loan usda guaranteeing

[DallasLoanGuy]

What did your loan officer say about this?
Some loan officers are pretty good at their job and know guidelines. 

[Anonymous]

I think it really depends on how good your lender is... my real estate agent said contracts are constantly falling through last minute because the lenders aren't pre-approving people very well. A lot of the "big guys" seem to fall into this category most frequently (Quicken, Countrywide, etc).

I will keep positive thoughts for you!

[WannaHouse]

The 660+ MAY squeak you through. I agree with Dallas though.....CALL and ask   

[Anonymous]

He keeps telling me that we will be fine to relax. I JUST CANT!!! I found the Chase USDA guidelines online and it said 660  or above score was considered the "overlook stuff" score . I am just so nervous since our house is sold we could be sued if we backed out . YIKES

[WannaHouse]

It is normal to be freaking out! I will be saying this really soon...we are making our first offer this week!!

Good luck and I'll keep everything crossed for ya 

[Anonymous]

I, too, am currently in freak-out mode. I'm past underwriting (by about two weeks!), the home has gotten past the lender's requested second appraisal (the second one was a $1,000 HIGHER than the first!), and the loan officer says we may be able to close as soon as Friday. I'm not moving a box till Friday.

[Anonymous]

I just sent over all of our final information to broker we should know by tomorrow or friday morning. I have found the CHASE lender packet saying credit scores of 660 can go to express underwriting (which our are) but I am so sick I just cannot calm myself down even with broker saying we will be fine. We are using home star and our broker has been doing these loans for years but STILL.

Have any of you closed a USDA loan lately?