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100% & The Basic Steps on getting approved for a Guaranteed USDA loan!....A great loan for Wisconsin!
No doubt, USDA loans are a great product!  Jason Sardi has blogged about them, I have blogged about them, and many others as well!  However, what you MAY NOT KNOW, is the BASIC steps involved when getting approved that will save consumers, Realtors, and even OTHER LENDERS who dont understand this process very well...ALOT of time!


 
1.  Take a COMPLETE application.
2.  Pull your OWN credit!
3.  IF credit score is above 620 you are golden!
(what that means is express documentation, Ill explain that further later)
4.  Fill out the Express Rural Development Approval Form
5.  Gather as much income documentation as possible
(generally last 2 paystubs, 2 years w2's, recent asset documents)
6.  Fax in the Approval Form, Application, Credit, Income Documentation,and a Transmittal Summary (1008) to the FUNDER you have selected!  Ie;  JP Morgan Chase
7.  Also good at this point to submit a qualify LOX if there is something 'odd' with the transacation. (this is a letter of exaplanation)
8. 48-72 hours later you get a LOAN APPROVAL from your funder! This loan approval is subject to clear title, Home Owners Insurance, Satisfactory Appraisal, and legible OTP!  

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YES, it is really THAT easy!!!!!
... more

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