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Established Member
Macbookguy
Posts: 13
Registered: ‎05-14-2007
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

In Greenville, SC our local USDA does have funds. I have a friend I have referred to that agency and the area specialist told me they have plenty of funding... I applied for my own direct loan earlier this year and closed on my house using this program on 8/26. Don't give up wherever you are in the process. These loans can and DO get closed.

Regular Contributor
wednesdayaddamsd
Posts: 152
Registered: ‎04-01-2010
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

I've read all your responses from the last day and I appreciate every one Macbookguy! I hope you're really enjoying your new home. Your posts have been so wonderful!

 

:smileysurprised:)

Established Member
Antiques
Posts: 15
Registered: ‎03-21-2011
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

Hi, I know this may seem like a silly question bur we are suppose to close on Jan 6, 2011 did you close on the date you were suppose to close on or did it take longer. The funding is available and there we are just waiting on our inspection and appraisal to come through and then the office can request our funding. Also when did you start to pack all of your belongings. I am suppose to give 1 month notice to our landlords but have been advised to wait until funding is secured after appraisal comes back. Im just kind of lost and dont really know what to do next. I know it's a waiting game but I have things I need to do to prepare for moving. If you have any advise for me I would be grateful. Thanks
Established Member
Antiques
Posts: 15
Registered: ‎03-21-2011
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

[ Edited ]
I'm sorry I meant we are suppose to close on Jan 6,2012
Established Member
Macbookguy
Posts: 13
Registered: ‎05-14-2007
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

My original estimated closing date was 9/22/11. After the appraisal and inspections were okay the USDA office ordered the title work and suggested a closing date of 8/24. The seller and I agreed on 8/26 and I closed without any problem on that day. 

 

I too did not give my notice until my funding had been secured, so I paid two months of rent because I had to give a 60 day notice where I lived. I started packing the minute I had the certificate of eligibility. 

Established Member
Antiques
Posts: 15
Registered: ‎03-21-2011
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

Hi, I was just wondering how long it took for your funding to be secured after your loan officer requested funding. Ours was requested on Thursday the 15th so I was just curious to how long you think we may be waiting. Everything else is done.... Appraisal, inspection, termite and all repairs that had to be done. So she requested our funding and now we are just waiting. Any help would be great!!! Thanks
Member
blacky77
Posts: 8
Registered: ‎06-02-2012
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

Hi!  Just found this site & am so greatful for all the info!  We have just had our credit run  by USDA office in Spruce Pine, NC & were told our credit looks great & they are starting the qualification process.  (We are living in Henderson County & looking to stay there.) Here's the problem (isn't there always one?)...we had a Deed-in-Lieu of Foreclosure that concluded exactly 1 year ago, guidelines are 36 months.  Any thoughts on this whole waiver thing?  Our scores are around 700 & everything else on our credit is excellent. How long before we might here something?  The anxiety can get overwhelming!  Thanks...Lois

BTW, Macbookguy, all your posts have been wonderful & I'm very happy for you as you're enjoying your new home!

Member
blacky77
Posts: 8
Registered: ‎06-02-2012
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

I am trying to find out if anyone knows anything about current funding.  We are ready to close as soon as we are funded but told the funds are "ify" right now, waiting to see if we get funded.  If we don't get funded right now does anyone know when funds might be available?  Thanks!

Member
blacky77
Posts: 8
Registered: ‎06-02-2012
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

Is there anybody out there who is waiting for funding for a USDA Direct loan or has experience this year with it????  We are 19th in line nationally to be funded so we can close, it's been 3 weeks now since funds were requested.  Can anyone shed some light on this?

Member
blacky77
Posts: 8
Registered: ‎06-02-2012
0

Re: USDA Direct Mortgage Funding for Fiscal Year 2012

Hi  Antiques,

Did you ever get your funding & how long did it take?  That's where we are right now only they say funds are low. We were told a few days ago that we are #19 on the pending list nationally.  It's a bit nerve racking!


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