usda section 502 guaranteed loan

[Anonymous]

I qualify for a guranteed usda loan section 502. I am on a 90 day contigent offer on the home i found i very nice older gentleman whom owns the land and house is working great with me i moved to oklahoma from texas bc of my job. I have been with lexington law for about 2 months have 20 negative removals already started with 47 total they are all very old.lexington is doimg a great job. My credit the last 3 yrs has been excellent no missed payments no new collections ect..my credit has also improved..income is 65k year single mom and only $120 dti monthly..the property i am buying is 165k...just hoping all goes well just seeing if anyone has been in this sitaution how long they take ect..what the approx house payment will be. i have already put 5k down to hold the house for 90 days i have to call monday to get this process started...also how long is the process and is there any chance i wont get approved?

[Anonymous]

Keep in mind taking a subsidized loan... That if you have Derog's with balances... Be prepared to pay them off or at least setup a payment plan.  

Also if you're using LEX Lawful that to clear underwriting you will have to have 0 accounts listed as disputed on your reports.

If you have defaulted Federal Student loans...... They may be your first priority.

Also... There are many USDA loan calculators out there. Taxes and insurance are different for everyone. No one could tell you the payment without all the info. 

[Anonymous]

Thank you! We are on our last round of disputes...i had some missed payments about 9 yrs ago on my student loans they are 0 balance bc i consolidated them around 3 yrs ago...and they are being challenged as i write this...i dont have that much left my balances are either 0 or less that 100 i was once young and dumb and didnt care ...maybe i should wait a couple months and see what is left to payoff after LL is finished. Do you know how long the process takes with the section 502 guranteed usda?

[Anonymous]

And i found calculator looks like i will be at around 800-1000 month which works for me