My understanding from reading a post on another forum is that it will take quite a while for funding to show up for FY 2013 if you don't already have a commitment in place. If you are already in the pipeline, you have priority over someone entering the pipeline now. The post I read seem pretty informed, and stated that if you are entering the pipeline now, funding will not likely be available until the end of the calendar year.
I went under contract July 23 when "they had plenty of money". Closing was suppose to be September 7 but I am still waiting on funds. Senator Collins Office called RD for me and found out the funds will be released the third or fourth week of October. I have been waiting on funding since the end of August. Hoping the sellers will sign ONE MORE extension (fingers crossed).
What I don't understand about this process is how other people have been able to keep sellers waiting while RD takes forever to fund loan. I am hoping by the grace of god these people will extend again bc they are already out of the house. Anyone else waiting to close?
We have been under contract since June 17, 2012, were supposed to close Aug. 24th but...also still waiting on funding :-( We have been fortunate so far with the sellers granting 2 extensions so far but who knows if they'll continue. When you spoke to the senator who found out about when funds will be available was he pretty sure about that date? Do you know what number you are in line nationally for funding? You can ask your field office to check on that for you. We are # 17 nationally. So close yet so far!!!! Edited
Just a FYI I went thru USDA when I purchased my home(in ohio) and at the time (June 7th 2012) they were on a 4-6 week turn around. which I actually didnt get finalized till August 7 so it turned into 8 weeks and I was told by a neighbor that theirs took from july till mid september. All i can say is I have my finger crossed for each of you and just be patient