Steps to Take Prior to Applying for a USDA Loan

Preparing for a USDA Loan Application - What Homebuyers Should Do

Getting a mortgage for the first time can be rather daunting. There is so much paperwork involved, terms used you’ve never heard of and so many other third parties involved. USDA loans require USDA lenders to approve a loan based upon your ability to repay your debts as well as validating a good credit history. Note, “good” not “excellent.” That […] Read more »

USDA Lenders and the Loan Process

USDA Lenders: Touchpoints in the Loan Process

When you first engage a USDA lender and get rate quotes, closing cost information and ask various loan questions, you’re talking to your loan officer. The loan officer is specially licensed to quote interest rates and payments to you and is there to guide you through the process. But once you submit your loan application, there is a buzz of […] Read more »

USDA Loan Prequalification, Preapproval & Loan Funded

USDA Loan Prequalification vs Preapproval vs Funded

It’s hard not to notice online advertisements from different companies who issue loans. Especially so when your eye catches them as you begin your initial search for more information on USDA loans. Just a few searches with the words, “USDA loans” and soon you’ll see online ads for USDA loans. What you may also see are variations on the term, […] Read more »

Guaranteed Underwriting System for USDA Loans

Guaranteed Underwriting System and USDA Loans

USDA loans, in addition to VA and FHA mortgages, are first submitted electronically through an automated underwriting system. The system used for government-backed mortgages is called the Guaranteed Underwriting System, referred to by USDA lenders as “GUS.” Borrowers can complete an online loan application or speak with a loan officer over the phone who can take down the minimum information […] Read more »