USDA DIRECT- FL

[Anonymous]

I have to admit Im intrigued by this entire process and kinda chuckling to myself. I figured this type of program was something like FHA where they contract to private banks to do them, but this USDA thing is like OLD SCHOOL. Haha The way you guys desribe it, this sounds like one of those FDR's new deal style 30s agencies like the WPA or the NRA where they have a government agent assigned to you and paperwork back and forth etc :-P 

[Anonymous]

Hello, I hope everything works out for you. I was just wondering, Arent you able to get USDA loans via banks? 

[Anonymous]

USDA Rural *DIRECT* Loan is for lower income families with income limitations, and may also provide subsidies based on need. This loan is handled with a local USDA office.

USDA *GUARANTEED* Loan has higher income limits, and is handled by local banks that participate with USDA loans.

[cjane1]

I hope Texas isn't the same way, you have waited a long time to get anything done. By the time you got anywhere was the property still avalible? I

[Anonymous]

Any updates?

We haven't formally applied for preapproval yet. We have a collection with a CA for Sprint that is over SOL, but we were trying to work on PFD before we app, but I am ready to give up.

I also did AZEO for our credit cards in mid February, went from 60+% utilization to 6%. The payments haven't updated on CRA's yet, was hoping for a slight fico boost. As soon as we see the payments update to CRA, we will formally app. 

[Anonymous]

As a realtor, not in FL but NC, I would rather bang my head against a wall until unconcious than deal with USDA Direct.  This won't help any, but the bureaucracy doesn't end after you get your COE.  Just wait until you are actually under contract on a house...

[Anonymous]

OverTheMoon,

Care to elaborate? 

[Anonymous]

Do just venting a bit of frustration. I’ve had my COE for about two weeks now. My specialist does not answer my realtor. It would suck to get an offer accepted in a house just to find out the ratios don’t work when it gets to her desk.
My realtor is pushing for me to use her lenders who answer at any and all hours. Now it’s Friday and I have to wait the entire weekend before I can try to contact her again. 😑 #rantover

[JVille]

There is a reason you Realtor would prefer you to use her/his lender.... realtors know what lenders actually get the job done and the deal closed VS lenders who are incompetent and seem to have zero interest in closing the loan.
I would encourage you to at least speak with the preferred Lender, you may find them to be a better fit.