I was looking into these loans, they pay for everything and easier to qualify then FHA loans . Does anyone know bout these. Long as u have on time payments for 12 months n charge off accounts 12 months old u can qualify with ease if ur over 620 fico .
If you live in a rural area and meet the income requirements, then yes - a USDA-backed loan can be a great option. Did your lender tell you that you only need a 620 or higher FICO score to qualify, or did you just read that somewhere?
My bro bought a house n got that type of loan. So I read about it. Gotta have at least 580 fico but provide more paper work right.620 n up fico ur more likely to qualify with 12 months good behavior .
He got 4.8 with a 623 fico. I don't plan on getting a loan til January. Hope the rates don't increase
Not a bad rate either. Rates have nowhere to go but up, but I doubt they will raise much, if any, by the beginning of 2011.
