cancel
Showing results for 
Search instead for 
Did you mean: 

CLOSED -- Clueless but I would like to buy a home - USDA Direct

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Contributor

Re: Clueless but I would like to buy a home

Of course the rep was not in on Friday so I called first thing this morning and asked him if there was anything I needed to do.

 

He tells me he has 15 applications ahead of me and I'm number 15. Plus he has to redo my COE because I chose a home in a different county -that will take all week apparently. He has to do that before he can order the appraisal. I explained to him I have to move at the end of the month and was hoping  I could close by then. He said we will try.

 

This is what he told me to do: Get receipts from the seller after he completes the repairs and write him a letter that they are done and that I accept them ! No further inspection needed. That sounds good to me.

 

I will be calling him Thursday morning for an update if I don't hear from him.

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 101 of 122
Established Contributor

Re: Clueless but I would like to buy a home

Good news ! The appraisal was ordered Friday morning. My USDA rep said the appraiser has 7 days to get it done and will get in touch with my realtor.

 

Woo hoo ! We are cooking with gas !


BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 102 of 122
Established Contributor

Re: Clueless but I would like to buy a home

Appraisal is scheduled for Monday ! Woo hoo !

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 103 of 122
Valued Member

Re: Clueless but I would like to buy a home

How did your appraisal go? Mine was ordered last week, but here in WA it takes 30-60 days!

1/28/19 FICO 8: EQ664 - TU649 - EX661
1/28/19 FICO 5/4/2: EQ690 - TU686 - EX678
11/16/18 FICO 8: EQ662 - TU644 - EX656
11/16/18 FICO 5/4/2: EQ685 - TU686 - EX674
10/22/18 FICO 8: EQ602 - TU589 - EX617
10/13/18 FICO 5/4/2: EQ672 - TU665 - EX658
CapOne Plantinum $550
10/2017 Started Rebuild
Message 104 of 122
Established Contributor

Re: Clueless but I would like to buy a home


@WAnative wrote:

How did your appraisal go? Mine was ordered last week, but here in WA it takes 30-60 days!


It was supposed to happen yesterday but for whatever reason it did not. It's supposed to be rescheduled to today.

 

I hope yours does not take that long. That's crazy !

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 105 of 122
Established Contributor

Re: Clueless but I would like to buy a home

As far as I can tell, the appraisal has not been done and the appraisor has stopped communicating with my realtor. I let the USDA rep know via voicemail. Let's pray the appraisor gets it together and completes the appraisal asap.

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 106 of 122
Valued Member

Re: Clueless but I would like to buy a home

How frustrating.

 

I emailed my loan specialist asking about the appraisal. She said that the USDA orders it, then it is up to the appraiser to accept it and then the appraiser has 30 days to complete once it is accepted. She said that they don't even communicate with the USDA until it is done. Such a complicated way of doing things!

1/28/19 FICO 8: EQ664 - TU649 - EX661
1/28/19 FICO 5/4/2: EQ690 - TU686 - EX678
11/16/18 FICO 8: EQ662 - TU644 - EX656
11/16/18 FICO 5/4/2: EQ685 - TU686 - EX674
10/22/18 FICO 8: EQ602 - TU589 - EX617
10/13/18 FICO 5/4/2: EQ672 - TU665 - EX658
CapOne Plantinum $550
10/2017 Started Rebuild
Message 107 of 122
Established Contributor

Re: Clueless but I would like to buy a home

Appraisal is done ! Houes appraised for 145k and asking price is 139k !

 

The next step is for me to review the repairs the owner did. I have been asking for receipts every couple of days with no results. I told my realtor I need it today. We are also going to the house to see if they have been done or not because I need to send USDA a letter that they were done to my satisfaction before they can obligate funds. Once funds are obligated, they can do the title search. Once that comes back clean, they can set the closing date.

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 108 of 122
Valued Member

Re: Clueless but I would like to buy a home

Good luck!! I just read all of your posts for research. Could you tell me how many inquiries showed up on your reports after this whole process?
Message 109 of 122
Established Contributor

Re: Clueless but I would like to buy a home


@Marleygirl1 wrote:
Good luck!! I just read all of your posts for research. Could you tell me how many inquiries showed up on your reports after this whole process?

So on all 3 for the past year I have 2 inquiries each. I had one in June of last year as well that is over the year mark. That was from Navy fed I believe. I tried with Navy Fed first. Then two pulls from USDA.

BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
10/18 ~ EX: 666; TU: 646; EQ: 652
Message 110 of 122