USDA (direct loan) is totally messing around with me at this point and I have a feeling my loan is not going to get funded. USDA told me last week they are getting low on funding. Can I get a back up loan? Can I get the process going for the guarenteed loan while Im waiting to see if anything comes of the direct loan?
I went into contract 2.5 weeks ago and USDA hasnt done anything. The USDA guy was suppose to do our appraisal last week and never did. Now they arent answering when I call and are not returning my phone calls. Awesome.
We started a USDA guaranteed loan on July 26th and closed on our home on August 31st. I honestly don't know if you can apply for both though....we went through a bank that was very familier with USDA loans.
lamwhoiam- Yeah, their fiscal year starts Oct. 1st, but that doesnt mean thats when funding comes in (straight from USDA rep's mouth). If you read old posts you'll find that USDA didnt get funds for their Oct. 2010 fiscal year until the end of March 2011. Im in Ohio.
veggs2000- That is awesome! Im ready to throw in the towel with the direct loan. The amount of stress Ive been in the past couple months is unreal. This loan doesnt seem worth it to me anymore.