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did usda get their money?

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New Contributor

did usda get their money?

today i got a call from somebody at my mortgage company that i have not dealt with. I asked her point blank about the USDA funds and she told me that they were approved friday. is this true or am i getting more stall tactics from my LO? my realtor is dealing with a couple other lenders and they are telling him that they need to wait until the usda money comes thru before they will go to work on it. whats the real scoop here. i'm 5 weeks in underwriting and getting a little irritated.
Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: did usda get their money?

I read that funds were released, so I think she's being straight with you.
Message 2 of 4
ponderous
New Contributor

Re: did usda get their money?

My lender got the word Monday of the same thing. 
Elizabeth
3/23/09 - Eagle Home Morgage pulled a 742 on me?!!! WooHoo!!!!

3/16/09
TU 708
EQ 692
Message 3 of 4
BrianB_The_Loan_Professor
Valued Contributor

Re: did usda get their money?

Funds did come through - They have not changed anything as far as income limits like expected but they now have funds.

There have been a few lenders funding these all along with their own money - your LO must not have had access to one of them?

 

B

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly
Message 4 of 4
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