Re: USDA Funding
01-25-2013 11:22 PM
Yes, absolutely. I would wait it out if at all possible. The direct program is a whole lot more flexible whereas guaranteed doesn't really offer you anything beyond some relief in the downpayment and PMI department.
Unfortunately I wasn't able to find a whole lot out. I did find some funding notices and stuff like that. My interpretation was that a certain amount of money was released and that it might have to last longer than initially expected. I don't know that it's as bad as the person you spoke with indicated. If I were you, I'd become the squeakiest wheel they hear from. Through a Google search I actually found my way back to a thread here where someone indicated that the direct route was a very long, drawn out process. It sounds like everyone has to deal with a lot of delays through USDA direct, and by becoming the daily caller you're that much more likely to get some attention.
I'll keep looking around. Please do keep us updated, and I wish you the very best.