will USDA accept our loan after my bank did???

Asked by Jessica, Mon Apr 16, 2012

after a gruling process with my bank they finally gave us approval for our loan and now sent it too usda...Will USDA accept our loan??

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Anthony Merc…, Agent, Hemet, CA
Fri Sep 27, 2013
Before you get a USDA loan you need to refer to the USDA maps and see what area qualify for the loan. You can visit the USDA website and find out.
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, ,
Mon Apr 16, 2012
The hard part is over. Sending your loan to the USDA is actually just a formality. Your loan has to sent to the USDA for loan guarantee or commitment. Since you are in CA this should process should no longer than 3-5 working days. I am pretty surprised to hear how difficult your loan process was. USDA loans are the simplest and easiest loan someone can qualify for. We don't need tax returns unless your are self-employed, just your W-2s, and the condition of the property is not nearly as stringent as VA or FHA. The majority of my clients are baffled at how smooth the process is on these USDA loans, given the fact they have heard all the horror stories from their friends about their loan process. It's strange, the USDA loan program is so easy, I am closing people with previous short sales with multiple lates on their mortgage after only one year. I guess it comes down to who your Loan Officer was. Clean file going in, clean approval, smooth sailing.

Best of Luck!
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Tamara Stoebe, Agent, Lancaster, CA
Mon Apr 16, 2012

Based upon your question, sounds like you've had a tough experience. If your working with a reputable lender, before they submit the loan package to USDA, they've already pre-qualified your package for you.

USDA loan processors typically know their stuff and they will walk it thru for you! Best of luck on your home purhcase.

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