Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Mortgage
Profile Image

Question By
akroupa1948

0 Contributions
0 People Helped
Has anyone applied for a USDA loan lately.
I am considering applying for one in the next month or two and I'm curious what the process is like for this type of loan.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
2 Contributions
5 People Helped

  We are applying now. From the research Ive done, you call the office that supports the area you want to live. Then you are sent a prequalification application. 

  You will get a yes or no for the pre qualification. If you are told no, that doesn't mean you WON'T get the loan.. and a yes doesn't mean you will. It is just a gage of your chances. 

  You then get a full application. You will have to send in income, identity, and rental information. After that is completed, you will get your pre approval. Allowing you to start shopping for a home. After you are under contract, they will submit your application for funding. 

  I've read this prosess going really fast, and some stating it took almost a year. So I'm curious to see how this goes. We've just started. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.