Credit Card Center Advertiser Disclosure

Established Contributor
Posts: 714
Registered: ‎06-01-2012
0 Kudos

where to start?

I recently got my scores where they need to be for USDA requirements. Now Im ready to start shopping, as I am looking for a short sale, It should take some time before the actual closing or getting an accepted offer.


I DONT KNOW WHERE TO GO? Do I go to a broker, a loan officer, a realtor? where do I start the process. This forum is really the only place I can ask to get someone with experience.


Who typically works harder, deals with below average credit the best, is most cost efficient, etc.


so basically, If you did USDA short sale, where did you start and did you get the results you wanted?


Thanks in advance for any advice on the topic Smiley Happy

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Senior Contributor
Posts: 3,889
Registered: ‎05-24-2011
0 Kudos

Re: where to start?

First you need a preapproval letter because an agent isn't going to work with you without one.  If you don't know ANYONE who is either a lender or agent, or don't know anyone who is, then we can send you referrals.


I used Academy Mortgage and they are a mortgage banker - they loan the money in house, then resell it.  They do USDA loans.  I am in Oregon, and if you are, I will give you my loan officer's name.  If you aren't in OR, just make sure they work in your state.   A broker/banker is better than a bank, IMO, as they have more options.


Word of mouth is the best anyone at work or your family who has a referral?

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Super Contributor
Posts: 7,915
Registered: ‎07-03-2007
0 Kudos

Re: where to start?

Talk to friends/relatives/co-workers..... ask who they used for a loan and if they were happy. The loan officer will know a good realtor to send you to


Contact a realtor... they will know some good lenders.


* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' (and now Louisiana)since 2004

* The Loan Officer who you can call anytime... and answers your questions Nights & Weekends

Established Contributor
Posts: 714
Registered: ‎06-01-2012
0 Kudos

Re: where to start?

[ Edited ]

So a co-worker of mine referred me to a broker with short sale experience. I called yesterday and he was very helpful, answering all of my questions and giving me a ballpark on how much home I could borrow. (which is more than Im looking to buy) so I was excited. Then he asked about my score and I told him I only knew TU and was hovering right at the score to get approved. He said he wanted to get me around 660 before we put in the application. I stopped asking questions for fear of feeling dumb, and just said ok.


I thought USDA streamline was 620? Is it different for every broker?  I was excited because 620 is no problem for me to hit before winter, but 660 is pushing it a little and makes me nervous. Should I contact another broker and find someone willing to work with 620? or do they usually just suggest 660 for ease? Ill find out for sure before I apply, just wondering if anyone ran into this with USDA.


and thanks for the replies guys.


Booner, I live in Michigan, but thanks for the help. I will be seeking pre approval as soon as some issues ive taken care of (CO deletion, util drop) shows on all reports.

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.