USDA Guaranteed loan

[Anonymous]

Hello ! So we are going through the process with a home. I have recently found out a new collection is on my account from August I have above 640 my husband does not. So we are going though underwriting. Does this mean our loan is at risk because of this new collection ? I see you said they could ask you to write a letter? Is this in all cases ? I have read on the USDA manual of its under $2k they can ask you for letter of explanation. That they don’t reach to pay it off because it can take away from funding for closing costs ? Do you think we’re at risk ??

[Anonymous]

hello there,

what is the qualifying debt to income ratios with USDA products? and in addition to this, down payment requirements if you get approved with lower score such as 580 range through manual underwriting?

[Anonymous]

The DTI from my understanding is 41%
I know there are instanced you can get approved it just requires more tedious underwriting. It is also as the hands of the lender you chose. Such as some lenders will decline you if you don’t have a 640 which is required to be approved through the automatic underwriting system (GUS).

[Anonymous]

Our loan was approved with conditions last week. We returned everything within 24 hours (yay!). Now, I think I’ve signed a request for tax transcript three times now. Today, I signed off on a request for my transcript yet again but this time with the transcript being mailed to a company called Fraud Technology? My co-applicant didn’t have to sign one but I did. Is this normal...?

[Anonymous]

Do you work with USDA mortgages in DE ? Or NJ ? 

[VALoanMaster]

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@Anonymous wrote:

Do you work with USDA mortgages in DE ? Or NJ ? 

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@Anonymous ,

Yes I do.

[Anonymous]

How do we talk to you ? 😩 every lender I've spoken to about USDA they say they do it but they sound so uncertain about it LOL. 

[VALoanMaster]

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@Anonymous wrote:

How do we talk to you ? 😩 every lender I've spoken to about USDA they say they do it but they sound so uncertain about it LOL. 

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Hi @Anonymous ,

I replied to your pm.