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why usda is supending a loan because borrower is a military on duty(irak) wife not on loan ?

Hello hope someone can help? my client a us navy on duty (irak) applied for usda loan lender has completed all their conditions but when USDA review the file they questioned that borrower need to occupy the residence within 60 days of closing his wife is not on the loan (Non Purchasing Spouse) but the borrower is buying as primary residence bcoz wife and kids are going to live there USDA said that Borrower either have to occupy withing 60 days of closing or show documentation that his base is within reasonable distance (Irak to Seagoville Texas)  Any ideas?. will hate this family will not be able to purchase. been searching and FHA or VA guidelines are okay with this why USDA will make a big deal?????
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March 26 2011 - Dallas
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IF the borrower does not intend on occupying the home within 60 days then it is possible that the loan doesn't meet the requirement for USDA eligibility.

Is there any reason why the borrower didn't apply for a VA loan?

The VA guideline specifies the borrower should occupy or intends to occupy the home within a reasonable time from closing.  Underwriting will need to determine what's reasonable which might be the loophole you are looking for in order to get closed.



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March 27 2011
 
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