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Florida USDA turn times? 1st time home buyer...not sure what to expect. Advice?

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Ktburchfield
New Member

Florida USDA turn times? 1st time home buyer...not sure what to expect. Advice?

My husband and I got pre-approved with a broker. Found a house and submitted an offer. The offer was accepted and our broker submitted the application to the Lender for a USDA loan ,who approved it. We ordered the appraisal and it came back $6,000 higher than purchase price. However it stated that the water heater was not working and did not meet the USDA guidliness because of that issue. The sellers are replacing the water heater and then we have to order the appraiser to come back out to make sure its fixed. Sellers agent said it will be replaced by Wednesday. So that's the point we are at but we have to move out of our rental in 2 weeks because our Landlord just sold it. I don't know what comes next. After appraisal, it gets submitted to USDA? And is there any chance it could be denied? How long does it normally take to close once sumbitted to USDA? We live in Florida and my broker said everyone is running behind that we had a huge buying boom. Just not sure what to expect since this is our first home and we have 2 young boys we have to uproot until closing. Thanks for any input as I'm totally stressed out lol :-)

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ShanetheMortgageMan
Super Contributor

Re: Florida USDA turn times? 1st time home buyer...not sure what to expect. Advice?

You'd have to contact USDA to find out their review time (RA.Flgainesv2.RD.questions@fl.usda.gov is the email address for USDA in Florida, an auto response should provide you the current turntime) .  The chance of them denying after the lender approves is very low, as underwriters are extensively trained on what will meet USDA guidelines.  After USDA issues their conditional commitment you usally close about 2-3 days later.

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