Frequent Contributor
Posts: 305
Registered: ‎07-05-2011
Re: USDA loan and if I would qualify

I went with USDA Gaurantee.   The first thing that pops out at me is that I would need to know what is the Lender's Middle Score required, mines had to be 640 Fico.   I had to have three trade lines reporting with NO LATES in the past 12 months.  MB disqualified my Student loans because they only reported for 11 months so that left me with only two positve trade lines.  MB went with a non-traditional tradeline (electric bill) and it was such a pain in the keyster.  Please give yourself time to pull your scores up a little higher, I think this will help with interest rates and UW.  I paid NO DOWN PAYMENT FOR USDA GAURANTEE, Seller paid almost all my closing cost.  Hope this helps....

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,