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I understand these loans are a process, but I'm trying to estimate about how much longer until I can close on my home. I am currently renting, but my landlord is selling the house I am renting, so I only have until the end of September to move out, so I was really hoping and praying that I can close before 9/30/17. Here is what I know so far:
6/26/17 - Full application taken to local USDA office by my LO
8/1/17 - Received COE
8/5/17 - Signed contract on house
8/7/17 - Inspection done & survey, inspection report, contract, floor plan, & request for appraisal taken to local USDA office by my LO
8/8/17 - Title company says "Title work on this property is good. No judgments/liens found against the buyer. Waiting on title request from USDA."
8/7/17 - 8/14/17 - My USDA specialist is on vacation for a week (my luck)
8/21/17 - I was told appraisal was done, but evidently I was given incorrect info
8/25/17 - Completed homebuyers education course
8/29/17 - USDA specialist ordered appraisal. I signed REQUEST FOR TITLE OPINION AND LEGAL SERVICES & APPLICANT ORIENTATION GUIDE
8/30/17 - The 2 items I signed above were returned to USDA specialist via email by my LO
8/31/17 - Appraisal done!
8/31/17 - Title company says "Prelim fees sent to USDA."
9/5/17 - Title company says "Pending title request."
9/7/17 - Appraisal report is supposed to be ready and emailed to my LO today
9/8/17 - Waitiing on response from usda specialist. My LO (broker) has not heard anything.
9/12/17 - Received word from my LO that appraiser has sent appraisal to USDA specialist.
9/14/17 - Finally received email back from USDA specialist stating he got my appraisal and will be working on it as best he can between now and Monday
9/18/17 - Asked for update from my LO and he says this:
"usda got appraisal back - sent back to appraiser for some technical changes. hope to get back tomorrow." What does this even mean???
9/19/17 - Appraisal turned back into usda.
9/19/17 - Received email from my LO that my loan has funded for this fiscal year. He says funds have been allocated for my loan, so not to worry about funds running out.
He also said "all usda has to do now is schedule closing with attorney and let us know when." C'MON AND DO IT ALREADY!!!
9/21/17 - Finally signed my FUNDING COMMITMENT AND NOTIFICATION OF LOAN CLOSING DOCUMENTS and emailed my usda rep my last 2 paystubs per his request.
9/25/17 - USDA has sent title request to title company!
9/25/17 - Title company sent title docs and title commitment back to USDA.
9/26/17 - CLEAR TO CLOSE!!! (Received word on 10/11/17 that my CTC was actually issued on 9/26/17!!!)
9/27/17 - CLOSING ON 10/16/17!!!! USDA rep emailed me today. She said she will be emailing my closing disclosure soon.
9/27/17 - Pest inspection turned in.
10/5/17 - HUD approved by USDA
10/6/17 - Received closing disclosure from USDA
10/7/17 - Walk-through
10/9/17 - Per title company, received loan docs & saved to file, cued up checks & deposits, & USDA closing package prepared.
10/16/17 - CLOSED!!!! And it was a very pleasant experience.
I am so happy it's finally almost here! My landlord gave me 2 more weeks, so technically I need to be out by 10/15/17, but they couldn't move the date before the 15th, so she will just have to deal with us moving out on the 16th. Lol
When do you think I will get the CLEAR TO CLOSE? And does a CTC mean everything has been done and I can go ahead and schedule my utilities and internet and all of that. I think the ISP may do a credit check, so that's why I'm asking if it would be okay to do that after I receive my CTC.
UPDATE: FINALLY CLOSED ON 10/16/17 AND IT WAS A PLEASANT PAINLESS EXPERIENCE. THE 4 MONTHS WAS WELL WORTH THE WAIT AND ANXIETY. LOL
Yeah that would be great if I could get someone on the phone. I did send an email to my usda specialist yesterday afternoon, however I am still waiting on a response, and my LO (broker) said he hasn't heard anything yet. Just wish I knew how much longer.