What happens to my USDA Rural Development Guaranteed Loan Now?

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    • June 14, 2012 at 4:56 pm #252378
      Anonymous
      Inactive

      Hi everyone!
      *
      We got approved through the bank for our USDA Rural Development Guaranteed Loan conditional upon the appraisal.* When the appraisal comes in, they said that they will then forward everything to the USDA for final approval.* Does anyone know what the USDA will be looking for in the application?* Is it similar to the bank’s underwriting, or more stringent, or less stringent?* Do they look for conditions such as if the house/buyer qualifies more than the bank does?* Basically, I am just curious as to what the focus of their underwriting will be, and what I can expect.* I have been very stressed over the bank’s underwriting, but was wondering if I still need to stress over the USDA’s as well? Thanks!



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