no usda funds curently available?

[Alpha]

I have been waiting for underwriting of my usda loan for a month now. my realtor found out that there are no usda funds currently available andf they are waiting for this years allocation. anybody know anything about this? The underwriter is Taylor Bean and they have been stalling us for a couple weeks now.

[flintlockjo]

Hi Alpha

Im in Ohio and spoke to my Real Estate agent on Thursday ( she deals mostly with the USDA programs) she told me here in my area the funds are available. I've applied for a Direct loan an am waiting for an answer.

Maybe it depends on where you are located as to when the funds are available?

[Anonymous]

My understanding was the the current administration has not yet released the funds. It was supposed to happen a few times now. They were also supposed to redo the income buckets and that has not yet happened as well.

Big banks are doing the loans and holding them in their portfolio until the money is released because they "know" it will eventually will be released. My current LO could have done one through Wells FArgo for me he said the problem was I need the income buckets to change as well and he couldn't do anything about that.

[msnabs]

Hi Alpha,

 I am in SC and I was told that there were funds available. It may depend on the state and number of applications.

[flintlockjo]

Maybe this also depends on whether you have applied for a Direct Loan or a Guaranteed Loan.

[WannaHouse]

I'm in WI and as of last Thursday the funds were not available yet. We are going through Chase, and they are still going to do our loan because they know they will be fine. 

[flintlockjo]

could be kinda like a wave,, moving east to west..... lol  we got ours, yours will be next.

[DallasLoanGuy]

I heard that funds were available.

Regardless, some lenders are still funding them!!!