USDA APPROVAL

Smoch5
Contributions:16

Me and my wife are going for a approval with the USDA loan. Our lender which is DR Horton thats who we are going threw ran our credit My Wife mid score is 649 and my mid score is 642.She has no collection accounts and i have no collection accounts all our credit cards are at zero.... but in the past i was 60 days late on two of my cards however its been 11 months since i was late on those two cards....We have car payments that equal 850 a month and she has student loans that equals 260 a month our new mortgage would be 1294..... we make 5608 a month.....Do You think we have a chance on being approved...PLEASE HELP NEED ANSWERS FAST!!!!!!!

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June 28 2011 - Riverview

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Answers (2)

Smoch5
Contributions:16

Hey Connie yes the house was being built but its finished now so we are doing the financing now because when they first started building our credit scores were not high enough

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June 29 2011

ConnieK_Oklahoma
- 4.9/5.0
- (5 reviews)
Contributions:2899

I'll let lenders comment on your chances.
I'm just hung up on something I'm assuming....are you buying a DR horton home and financing with DR horton? there's not necessarily anything wrong with that...this isn't a criticsm...I just would like to say exercise caution and make sure that you're still making the decisions. people will aruge it's not different than using the lender that an agent might reccommend- sometimes the reccommendation comes because the agent knows of teh quality of the lender and sometimes it comes because the agent knows that lender will get the deal done (even if perhaps it is a bad idea).

look at the unbiased feedback carefully and sit down and have another lender with no interest in the particular transaction work up your possibilities....let them know you already plan to use another but let them give you an objective second opinion