We've got a company we work with closely that helps folks improve their credit prior to buying a home.
As loan officers, we know just enough to be dangerous when it comes to improving credit scores, and some of us even have access to tools that will help simulate how certain actions will impact a credit score. But the truth is, none of us have the time to diligently follow up on your behalf to make sure you're following the program. In most cases we give you a copy of your credit report and some suggestions then send you on your merry way in hopes that you'll come back ready in a few months. And as the saying goes, you can lead a horse to water but you can't make him drink.
These guys are crossfit trainers for your credit. Within 2-4 months they generally turn at least 50% of folks who'd have no hope of getting financed into approvable borrowers. Give them 6-12 months and should be no problem.
If you'd like me to put you in touch let me know.
Sr. Mortgage Loan Originator – NMLS #977416
Luxury Mortgage Corp
29200 Northwestern Highway, Suite 300
Southfield, MI 48034
Mobile: 313-622-7383 | Direct: 248-714-4914 | Fax: 248-415-1522... more
Rita if your loan was chosen for the internal audit it can take a while. USDA usually reveiws each loan and let's their computer underwriting system go thrugh the file,but every so often files are pulled to have a manual underwrite which will elongate the process.
Ask your morggae company if their file is under a manual reveiw by USDA to see if this is the case.... more
This is where it is important to have a good agent that you have been looking at homes together for a while, and building a relationship of trust. There are many issues to consider when making an offer, and by working with the same agent, you have gotten to know what you are looking for, you have gotten to know what are good prices, and your agent has gotten to know what you can afford and your limits. Your agent should be researching properties you like to see if there have been other offers, how long it's been on the market, what type of sale it is, whether the seller's are motivated.... Then your agent needs to do some comps to see what similar homes have actually sold for. If there are no other offers and the home has been on the market for a long time, then you can discuss a low ball offer with your agent and see what your agent thinks will be justifiable by comps, and then go for it! Good Luck!... more