topic Re: USDA rural loan direct program in Mortgage Loans

USDA rural loan direct program

Anonymous — Wed, 16 May 2012 21:37:04 GMT

I am applied for the USDA direct program and wanted to know if anyone has gotten approved with active collections. I have a few collections that I can pay off, I just would l like to know if they give you an option of paying collections in order to be approved. I would like to hear from those who have gone through program. Also, how long was the process? Thanks.

Re: USDA rural loan direct program

Familywantsahouse — Thu, 17 May 2012 00:09:49 GMT

According to the rep here, only if your score is above a 640 will it fly with collections...and then it's based on discretion.

We are going with the guranteed program in another state now, but we were approved through the direct program here.

Re: USDA rural loan direct program

Anonymous — Thu, 14 Jun 2012 00:58:26 GMT

I got approved with 2 small collections and open judgement. Scores were 652 670 698

Re: USDA rural loan direct program

Anonymous — Thu, 14 Jun 2012 00:58:54 GMT

They did have to be paid thou

Re: USDA rural loan direct program

Anonymous — Thu, 14 Jun 2012 01:33:08 GMT

I was approved with a charge off. My Middle score was 660 and It didnt have to be paid. I started the process in feb. I will be closing 6/28.

Re: USDA rural loan direct program

Anonymous — Thu, 14 Jun 2012 02:46:54 GMT

Hi whyme. Same here. Got the approval in feb. Due to close late June early July. Without any further complications that is This is the second house were in contract. First one needed new roof so that was a no go.
If u have any questions ask away Kira. This board and ppl who shared the process was a big help to me.