Regular Contributor
Posts: 188
Registered: ‎01-30-2010
USDA Guaranteed Questions
[ Edited ]

I just called my bank (small local bank) with questions regarding getting a guaranteed USDA mortgage.  She said I have to have 3% down and 6 months in reserves.  I have gone on the assumption, from this (and the USDA) website that this is NOT the case.  This bank does not even do FHA loans, so I doubt she is mixing the two up.

She also said I have to have 3 years of tradelines and a 680 score.

I read on here about people getting great mortgages every day, with lower scores than me and foreclosures and bankruptcies, etc. and every time I call anyplace nothing I am told matches up with what I read here.

I don't want to assume this loan officer doesn't know what she is talking about, but from everything I read everywhere, it sure seems that way.

Any suggestions of somebody in mid-Michigan that I can go to?