USDA Loan

[ashandmike]

hey thanks for all that information you posted, very helpful, however, im in the grand prairie area (DFW) and have a credit score around 576. I was told by a lender we could not pursue USDA Guranteed loan until we were at minimum 640, IS this totally true? If you dont mind me asking, what loan officer you had / and or underwriter (lender).. 

we are disputing items on credit so score should go up (given time), but what were the overall credit scores to start/finish process? Any info would be appreciated..

thanks 

OP, I edited the post and started your own thread.  Feel free to change the subject.  guiness56, myFICO Moderator.

[ShanetheMortgageMan]

Most lenders are looking for a 620 or 640 score for USDA financing.  Reason being is that underwriting is easier and there is a less of a chance that when the file gets sent to USDA at the end of the process that they'd deny it.  There are a few lenders starting to go down to a 580 score though.

Is your income level eligible for the direct version of USDA financing?  If so then you may have better luck going direct rather than through a lender.

[rideswithchrist1]

if you are below median income, try the USda Direct loan.