topic usda in Mortgage Loans

usda

Anonymous — Wed, 08 Jul 2009 16:43:51 GMT

What happens at an usda meeting? Just got a call today saying i need to come in for an interview on Monday I just wanted to get a heads up.

Re: usda

WannaHouse — Wed, 08 Jul 2009 18:33:10 GMT

Depends on what you are applying for. Is the meeting at the USDA office (for a USDA Direct loan) or at a lenders office (for a USDA Guaranteed loan) ?

Re: usda

MizzB — Wed, 08 Jul 2009 18:41:31 GMT

@WannaHouse wrote:
Depends on what you are applying for. Is the meeting at the USDA office (for a USDA Direct loan) or at a lenders office (for a USDA Guaranteed loan) ?

I'm actually wondering what happens at a lenders office for a USDA Guarenteed loan -- if you don't mind me jumping into your post. I'm hoping that one day soon my scores will be high enough to qualify for a mortgage.

Re: usda

Anonymous — Wed, 08 Jul 2009 18:44:42 GMT

@MizzB wrote:
@WannaHouse wrote:
Depends on what you are applying for. Is the meeting at the USDA office (for a USDA Direct loan) or at a lenders office (for a USDA Guaranteed loan) ?
I'm actually wondering what happens at a lenders office for a USDA Guarenteed loan -- if you don't mind me jumping into your post. I'm hoping that one day soon my scores will be high enough to qualify for a mortgage.

Mine seemed just like a meeting with any other lender. He got all my info- W2's, bank statements, copies of IDs, contract copy, pay stubs, etc.

He went over the contract with me and told me not to go out on a spending spree. He said he was sending it to processing at the end of our meeting.

Re: usda

WannaHouse — Wed, 08 Jul 2009 18:52:24 GMT

@Anonymous wrote:
@MizzB wrote:
@WannaHouse wrote:
Depends on what you are applying for. Is the meeting at the USDA office (for a USDA Direct loan) or at a lenders office (for a USDA Guaranteed loan) ?
I'm actually wondering what happens at a lenders office for a USDA Guarenteed loan -- if you don't mind me jumping into your post. I'm hoping that one day soon my scores will be high enough to qualify for a mortgage.
Mine seemed just like a meeting with any other lender. He got all my info- W2's, bank statements, copies of IDs, contract copy, pay stubs, etc.
He went over the contract with me and told me not to go out on a spending spree. He said he was sending it to processing at the end of our meeting.

Same here. It was a basic meeting..ran credit, looked it over, tells you if there are things to improve on (if needed) and then told us he would start working on things. We were pre-approved that day.