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New Member
sjseller
Posts: 5
Registered: ‎02-07-2013
0

USDA direct loan funding in Feb 2013

Has anyone heard about avail funding recently?
New Visitor
josheswifie
Posts: 2
Registered: ‎03-14-2013
0

Re: USDA direct loan funding in Feb 2013

In our area, I have been told that they have gotten some funding in as of this week.. Good luck!

New Member
sphj413
Posts: 2
Registered: ‎12-03-2008
0

Re: USDA direct loan funding in Feb 2013

Thanks. What state are you in?
New Member
SansMerci
Posts: 2
Registered: ‎02-20-2013
0

Re: USDA direct loan funding in Feb 2013

I am currently approved and waiting on funds.  I was told I could go ahead and make an offer on a house, and I should be able to close April or May. 

 

Before I did I called my local office and sure enough they are trying to pull funds from other areas.  When one area's funds are depleated they can use another area's excess.  So I am calling back tomorrow.  Hopefully the funds will be there and I can close quickly.  This whole process is stressful.

 

I am located in Illinois.

Regular Contributor
Target1212
Posts: 165
Registered: ‎04-04-2008
0

Re: USDA direct loan funding in Feb 2013

I was told aproz 12 moths for funding in MI! I'm on a waitlist :-(

New Member
sjseller
Posts: 5
Registered: ‎02-07-2013
0

Re: USDA direct loan funding in Feb 2013

FYI. We were told in late March 2013 that it would be after Oct 2013 before funding would be available. We were contacted on April 10th to get prepared for closing. We do not have a closing date yet, but the final approvals and inspections have been completed, and all inspection reports should be back to USDA by end-of-today. The next step is the paperwork for homeowners insurance and they will give us the closing date. Hope to be over with and done within two weeks. Been worth the patience!
New Member
SansMerci
Posts: 2
Registered: ‎02-20-2013
0

Re: USDA direct loan funding in Feb 2013

Update Illinois closing May 30th.
New Member
sjseller
Posts: 5
Registered: ‎02-07-2013
0

Re: USDA direct loan funding in Feb 2013

That is a long out for closing, but thank God it is scheduled. I hope we get a closer date because of other things I need done before school closes. I will take what I get, no doubt.
New Member
sjseller
Posts: 5
Registered: ‎02-07-2013
0

Re: USDA direct loan funding in Feb 2013

Hello SansMerci,

 

I know we are in different states, but can you (or anyone else on here) tell me how long it took for your title search. The lawyer here in NC has had the paperwork from USDA since April 17, and her office told me today that they cannot give me any estimated timeframe on when the title search might be complete. This is the last thing USDA is waiting for before they can give us the paperwork for insurance and a closing date. This wait is horrible since the seller has to come from Michigan to North Carolina for closing. We are so ready to get this over with. Hope all is going well with your closing.

 

Thanks in advance for any information you may have.


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