USDA loan denied...now what?

If you have money to apply towards the home loan we could Try getting you approved for another loan type. However we would need to act fast p. time in your case is of the essence. Give me a call 484-881-3260

Hello, None of the examples you gave are reason for getting denied. There must be something else. You really need to speak to another loan consultant to go through your options. Besides on Oct 1st USDA will be changing there maps so you need to check to see if will be an option in the next 30 days. If you have 3.5% to put down FHA might be your best option.

you can visit our website for details on un-conventional lending products. feel free to email or chat us online anytime. also see our intro to private banking video for more detail on how we do what conventional lenders cant. Kathleen, Private Client Serviceswww.superjumboloans.info

From your disclosed information something is missing. Like the others posted you need to speak with another lender asap

Hi, We have lenders that would be able to finance an USDA loan with your scores. Email me or give me a call. andrea@monumentmortgage.net or 215-272-1157Thanks,Andrea

The first thing to do is ASK WHY you were denied, then let us know here so we can help with answers. There is always a reasons... next, everyone needs to understand that "pre-approved" really doesn't mean approved. It means that you looked OK to the Loan Officer - but your full approval is only done by an underwriter.

Sorry to hear about all your troubles.. typically, USDA files are underwritten twice.. First, your file is submitted to USDA for underwriting and second, your lender will also underwrite it as well. This usually happens at the same time.. so when you state that underwriting turned it down, we need to know " Who " turned it down. USDA or the lender.. Regardless of who, you should know the reason why.. and once you know that, you can work on getting it corrected.. Since your 9 days away from closing, it's probably too late to consider moving your loan to a different broker. Plus if you did move your loan, most lenders would require you to pay for another appraisal, adding even more time to close.. I would get on the phone and insist that your loan officer take your call.. if he doesn't, ask for his boss, and have him explain where you are exactly in this process.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

If you were denied by the lender, it's certainly possibly to have lender look it over but of course there is no guarantee. It really depends on why the 1st one didn't approve and submit you to USDA for final approval. Starting over with another lender will likely delay your closing up to a month - partly depending on the turnaround time at the USDA office. Good luck!

It is always the overally picture that makes a difference and the details matter. It also depends whether you were denied by the lender you appllied to or by USDA. If it was the lender you can definitely try another lender but if it was USDA you wll need to work on your qualifications before trying to get an approval. It may be your DTI, reserves, or other information and without knowing those it is difficult to give suggestions. FInd out the specifics and then check with another lender. September 10 isn't going to be possible and the sellers should be told that so they can make plans.

The extra $ will also be helpful in getting you approved but sometimes causes unexpected other issues. Hope he is able to work it out, no one else is going to be able to get you closed in a week.

The only thing I can think is that the initial lender goes with a zero derogatory credit in the last 12 months policy. Without more information it is hard to be certain. There are other lenders that will allow for a single 30 day late within the year. I have seen USDA loans approved/closed with an open automobile collection around 4 years old. That should not be the issue. I hope you were able to get this resolved. Let me know if you are still in need of assistance. Clyde Penton NMLS#979755 404.604.7013 CBC National Bank

USDA RHS can be tough on credit and the home. Since you can't even get one unless your income and property match their eligibility requirements, it seems so improbable that after that you would be turned down. You need to find a lender as fast as possible that has more home mortgage loan options: www.phmc.com/coreyvandenberg