USDA Loan Direct - Arkansas (Slow process)

[Anonymous]

I noticed about 3 or 4 boards on here about the USDA Direct Loan process but mine seems to be going differently than all of those and I am very confused on if it is slower or faster.

First, I just went to the website and did the prequalification that said I was eligible, no representative involved. At that point, I called the office myself asking for an application and they sent me a large packet in the mail. They never did an initial pull, they just asked about my credit in the phone and I knew it was 781 last I checked.

Being a millenial, I didnt feel like driving and camscanned my app with all my bank statements, etc. and emailed it directly to the representative then mailed the money order for 25 dollars for a credit pull. They confirmed my application was complete and I wasnt missing anything and they received the money order.

But I havent received the hard credit pull from all 3 bureaus. No word back since the thumbs up that they had everything. Not even asking for more information. Is this possibly delayed because of the holidays? It seems like most people heard of something missing or atleast had a credit pull a week after they received the full application.

So basic timeline:
11/2/2018: Called and requested application
11/5/2018: Got full application in mail, called to question anything I was unsure of
11/7/2018: Emailed application and mailed money order
11/9/2018: USDA confirmed that they had everything they needed
11/16/2018: I called them just to check in and they said Im good and not missing anything.

[Anonymous]

My application was received in office October 15th and my credit was pulled October 26th.  

[Anonymous]

So update

11/28: called to report that I had moved and completed my homebuyers certification and was told my application was no longer with the area technician and was processing

12/11: never heard from the specialist after this to confirm they received the homebuyers certification, called and was told my application was received but still with area technician

[Anonymous]

12/12/2018: The area director called to say there was currently nobody in the position for loan specialist in my area and they are unsure of when processing will begin.

[Anonymous]

My area office was closed for almost the full month of November due to being understaffed. Hope they hire someone soon for your sake. It is strange they wouldn't forward your application to another specialist from a different area just to process it. 

[stinastina]

That sucks. You can change areas but the question is, does that delay the delay ? I would check with another office near your area and ask questions. The important thing is to get your certificate of eligibiity so you can put a contract on a house. One that's done, then your app will go to the area the house is in.

[Anonymous]

I called a different office in a nearby county asking if I already have an application, if I could re-apply for their county through their office. They told me to call the office I applied with.

I got thoroughly fed up because I am living in my grandmothers home which is up in probate because she didnt write a will. I need a home soon. So I researched down payment assistance programs with ADHA, contacted an approved lender, ran through everything with them, already have a homebuyers certification, getting pre-approved potentially later today. They are doing a DPA because I was 50 dollars above approved income for DPPI, but getting me the FHA private mortgage insurance rate. Found a home around 80k, they are recommending a realtor and said I should close by mid January.

Moral of the story: Still getting a house regardless. 😂😂😂

[Anonymous]

Also, Im impatient.

[stinastina]

@Slushy - that is so awesome ! I wish I could get another lender but my student loans are at an income based repayment and FHA would take 1% of my loan as the payment amount and count that towards DTI. I would never be able to get a house on what I owe. Keep us posted on your progress  and when you close !

[Anonymous]

Update! I got a realtor, looked at homes, found one for 80k in a downtown area, made an offer, my offer has been accepted. Currently in contract going through underwriting with the w-2s and all of my bank statements with my lender. Closing date is set for Valentines Day!

Still havent heard back from USDA. Lmao