Your USDA direct loan expierence?

[cwwatts1202]

Anyone who has gotten the USDA direct loan, can you tell me about your experience from start to finish? How long did it take? What did your credit report/score look like? 

[WannaHouse]

We got a USDA loan in May 2009. We had no problems whatsoever. It was fairly fast and quite easy! Our scores were in the 620-640 ranges.

OOPS!! I missed DIRECT...We got the guaranteed.

[Anonymous]

It depends on your credit score.  Even though they say there is no minimum score and score doesn't matter .... it does.  If you have a score 620 or higher like the last post then yeah you would probably get approved quickly without any problems.  Our experience was horrible with a score of 580 and income was documented and loan to debt ratio was low but we did not get approved.

Good Luck.

[Anonymous]

Please read my experience. I think that talking with USDA first, to explain your situation and see what they say. 

We had 638, and 624 mid scores, and it was the worst loan experience of my life. I here as long, as you can get approved thru automated underwriting, it's a lot easier. 

http://ficoforums.myfico.com/t5/Mortgage-Loans/First-Timer-Story-USDA-Denied-changed-to-FHA/td-p/198...