Quote:
Originally Posted by renay green
what will stop you from getting a loan once you have been pre approved for a usda loan?
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First, realize USDA does not issue preapprovals. The lender most likely has said, based on the information you have provided them, you can obtain a USDA loan. So, if the information you provided can't be validated (say you gave W2s, but neglected to tell the lender about the 30K in unreimbursed business expenses you declare), you may have a problem. Basically, anything that contradicts what you told the lender can be a problem.........that and altering your financial situation. You know, taking out a car loan, being late on your credit cards so your score is lower if the lender has to update your credit report. Almost all reasons are self-inflicted.
If you have a comfort level with your lender, chances are, you are fine. If you have doubts, there's a reason. Figure it out now, well before contract and trust your gut.
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