Letter from USDA: Updated- good news!

[Anonymous]

I finally got a response back on the original pre-qual app I sent to USDA today. The letter says, "During this informal and unbinding review, items that raised concerns or need clarification were noted." It goes on to say they would like me to call. What is really frustrating is that the office is closed until Monday so I don't even know what the issues are.

Anybody have experience with this kind of response on a pre-qual? Does this indicate a big no as far as obtaining a direct loan? I'm sad because this is probably the only loan I *could have* qualified for at this point.

Thanks.

[Anonymous]

Well, I talked to the USDA office just now. Basically, the issue was income (mine is 28,800 annually at the moment), my husband has none, a foreclosure from 02/2005, my husband's lack of credit score, and the foreclosure was an FHA loan.

So I learned a couple of things. They want me to apply alone on the app. They looked me up in CAIVRS (not showing, YAY!) and the middle credit score had to be above 640. 

The good news is, my credit *appears* to be good enough and she thinks I could be approved! Yay!

They are sending me the full app!

[Anonymous]

How much of a loan are you applying for with a 29k income?

[Anonymous]

Well, not sure really. We are trying to do the direct loan through USDA. My husband just filled out a background check on Friday and should officially be employed later this week. That will bring our income to 42000 annually. I'm not sure how much we will qualify for. I don't have a lot of experience with USDA so not sure how much we might qualify for.