USDA Conditions

[Genkeim]

Now that I'm waiting for USDA to approve my file I'm wondering if USDA ever comes back with any conditions? We're so tight on rate lock expiring that we're not going to have much time to deal with any issues. 

Our realtor said she's never seen USDA come back with conditions, but said anything is possible. Has anyone had USDA come back with conditions?

[CreditRepairGirl23]

Same boat here. Completed all work with the lender..got our committment in plenty of time. Now it should be sent off to USDA Monday. Hoping there is fast turn around and no issues as our closing is scheduled for Aug 2.

I wish you all the best!

[Genkeim]

Thanks, we're shooting for Aug 9th for closing. I'm in Indiana and they're backed up 28 days

[CreditRepairGirl23]

wow that seems crazy! I will keep my fingers crossed for you

I am in PA, Our loan rate lock is only until the 14th of aug so if we had to push it back a bit from the 2nd I guess we could but I really just want this to go smooth.

We actually offered on a house back in march and after much negotiating the offer was accepted. then septic failed inspection. more negotiating. got them to agree to install new septic system and when perc tested the soil failed. So anything put in would have needed approval by the EPA and that could take up to 3 months. We terminated the sale. Lost our home inspection money but got our deposit back.

So this is actually the second time for us but we never got to underwriting etc last time. Im excited to be further along (and we like this house even better so it may have been a blessing) but Ive been "waiting" since March to be done with buying a house! haha

[618938]

I am a lender for USDA product and 99% ot the time they nver come back with conditions....don't buy or charge anything till you close !

[CreditRepairGirl23]

I dont intend to..BUT I am curious why.

My lender assured me my credit would not be pulled again?

[618938]

Just in case....We always "have the right" to repull and they will also confirm your employmnet again right before you close....I noticed your title as credit repair...do you do that for folks in Ga? If so can you send me a message in the private box

[cocomadd]

What doe you mean not to buy or charge anything?  How about $20 for gas if I happen to forget to carry cash?  Can I charge small items here and there ??

[Genkeim]

Out LO told us they would do a soft pull just prior to closing to make sure there were no new credit accounts applied for or opened. 

During this whole process I've been keeping my util on a single card around 9%. During the month I've used the CC close to limit but it's always paid back down to 9% or less prior to it reporting. 

[CreditRepairGirl23]

I think what he meant was - whatever your balances are when your credit was pulled for approval , you do not want that to change. and def no NEW loans or inquiries.

I have been using my exisisting charge card throughout the process but am watching when my balance reports that it reports the same or less then the previous statement.

All stuff I learned from myfico