Where do I start USDA loan process?

[Anonymous]

Should I start with my credit union who does USDA loans? Or should I start with one of those Internet companies who blast on their website they handle USDA loans. Or do I start with a bank? Or should contact the builder of the community I'm considering?

[Anonymous]

It sounds like you're not very familiar with the program, so I'd suggest you read up on the Rural Dev website (HB-1-3555 is the Guaranteed handbook). Once you know a bit more about the requirements & restrictions, you'll be better prepared to select a lender & RE agent. When in doubt, research more! Best of luck to you!

[Anonymous]

I have already determined that I qualify and the community I'm interested in is also eligible. I just don't know which detection to go. I'm sure my CU would help but is that the best route?

[Anonymous]

The link I posted was to the handbook, not the eligibility pages. I still say your best bet is to read the handbook, but if you want another answer, I guess your credit union would be a good place to start.

[Anonymous]

Trust her! the handbook is key if you qualify to go direct, start with the closest USDA office. If you have to go guaranteed, does your credit union write USDA loans? I actually intially planned to go guaranteed and was in the process with Bridgeview bank. Direct has a better rate and lower fees, so if you can do it that way that would be my reccomendation.

Leavingthecity and I were on roughly the same timeline (unti she hit appraisal issue ) Mine closed on Monday as scheduled. Here is the link to my journey

http://ficoforums.myfico.com/t5/Mortgage-Loans/USDA-direct-my-process-CLEAR-TO-CLOSE/m-p/4099748#M17...

[Anonymous]

Thank you both for your valuable answers. I'm going to digest this handbook. I will locate the nearest USDA office. Also yes my CU underwrites USDA loans.