USDA Direct credit reports

USDA Direct credit reportsUSDA Direct credit reports
Niikolay asked 5 years ago

Hello.  I am new to this forum.  I’ve read till I’m blue in the face but I still can’t seem to find a definitive answer to this question:  Will USDA run another credit report prior to closing on a 502 Direct loan?   I know they do one initially when you apply, but then they have to do a mortgage credit report (Tri-merge, or something like that) so I was wondering when that is typically done.  I am well into the process of this loan but I’m giving myself stomach ulcers worrying about whether they are going to do another credit report and if I’ll be denied last minute.  So far, I’ve been deemed eligible, hired a realtor, found a house, signed a contract, and tentative closing date is 10/26/15.  Still waiting on the appraisal and inspection.   What is everyone’s view on this?  Do I have anything to worry about?   I know my credit score has gone down some, not too much I don’t think.  I still have 100% on time payments and only one closed utility collection, which I had to write a letter of explanation for.  The fact that it’s gotten this far makes me think I’m in the clear, but I’m worried sick.  Any input is appreciated! 

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