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Member
Posts: 12
Registered: ‎02-23-2012
0

USDA DIRECT home loan process

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Hello, I've been reading everyone else's process in the home buying through Usda. Here is my process so far it has been so stressful.

November 9, 2010 filled out full application for USDA direct. November 9, 2010 went under contract on a house new construction February 2011 first meeting with USDA LO March 2011 approved for USDA direct May 2011 USDA order appraisal for unbuilt house House appraised for 5,000 under contract price.builder lowered price to meet the appraised amount. August 2011 went on list for funding. Still no commitment letter for funding September 23, 2011 number 14 on list for funding October 13,2011 went the opposite direction on the list to number 17 October 13 thru November 30, 2011 no updates still number 17 December 14 , 2011 number 7 on the list December 14 thru January 18,2012 still number 7 on the list Now it's February 25 and they won't tell us anything about are funding. The builder wont start on the house tell we have a commitment letter from USDA . I feel like giving up on the process but my family is counting on this alot. There should be a support group for Usda direct applicants.
New Member
Posts: 6
Registered: ‎08-19-2012
0

Re: USDA DIRECT home loan process

Did you ever get to build your house?

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