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What Is the Qualification Process For A Mortgage

Reviewed by: David Naimey

Approved by: Chad Turner

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The process of acquiring usda loans from the guaranteed program can be remarkably convenient and quick. After entering some information online, we will do our best to contact you via the telephone number you provided. When we do get in touch with you, one of our Loan Officer Assistants will have a brief conversation with you regarding things like your desired loan amount, credit score, open lines of credit, your income, and finally your current living situation. Upon completion of this conversation, one of two things will happen:  if it seems as though you will have some difficulty qualifying at the current time, we will discuss the most effective way in which you could be eligible to qualify in the future; or if it seems as though you will be eligible to qualify at the current time, we will get you transferred to one of the Loan Officers who is licensed in your respective state. If you are eligible the Loan Officer will take a brief look into the information that was gathered by the Loan Officer Assistant, asking for clarification about anything they are unsure about. Following that, the Loan Officer will take a look into your credit to verify the information you have just provided. From there, they will either request that you send in some basic documents, or they will discuss aspects of your credit that may disqualify you from the program and the ways that you could best resolve these conflicts and qualify for the program in the future. If they do request your documents you are well on your way to becoming pre-qualified and then pre-approved!
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