RuraI Development Loan Help, have been trying to get a rural development loan in louisiana for 2 months now; the broker i used sent my file to two
different lenders and said i was denied and now want to send me fha. i have a 635mid,s/e 56k a year for last two years,40%dti. She stated its bc after my bk i had 2 collections which was a $55 and $135 that i disputed them bc it wasn't mine. All my other accounts has never been late since 2006,so how is it that i can go fha which one of the same lenders that turned me down but couldn't go rd. Help me understand, Please
I would be happy to try and assist you with a rural housing loan but lates/collections (no matter how small) can be an issue after a bankruptcy. However, I find it a bit unreasonable that you were denied financing with 2 small collections. What you need to try and find out is - did your lender deny you or did rural housing? You see, every rural housing file has to be approved by USDA - even if the lender has no problem with it. USDA can say no. If USDA said no to the file then it is possible that you are going to have your issues with them, not your lender.
If you have any questions, you are welcome to contact me.
Luke Allison
Bank of America Home Loans
828-777-8828
luke.allison@bankofamerica.com
Didn’t find what you were looking for? Ask a question!
More Q&A about Financing in Baton Rouge
View all »
Ask a question
|
|
|
|
|||||||||||
|
|
|
Fair Housing and Equal Opportunity