USDA guaranteed loan approval

[dehabel]

Lender approved/USDA approved now back to the lender underwriter.  Can I expect any issues or am I home free?

[Anonymous]

You are a step ahead of me. We just sent ours into the Rural Development on August 9th, so we are waiting for it to come back so we can send it back to Underwriting. Our lender told us to rest and everything would go smooth from here, but I don't understand why it goes back to Underwriting? Please keep us updated on your status. Hopefully, someone here has more experience with what to expect after it comes back from Rural Development. How long was your file submitted for to Rural Development?

[dehabel]

Honestly, it is quite unclear to me.  I do know that it got denied with USDA because the loan specialist said they did not do loans in flood zones - this is not true.  I had to make a bunch of phone calls and write a letter and from the time it was denied until I got USDA approval it was from Aug. 1 until today. It was quite possible the most stressful time of my whole entire life.  Once she looked at the file and had all of the documents, whcih was Thursday morning it was only until Monday morning.

I just want this to be over with!

[Hammer23]

It goes back to UW because USDA can add conditions that need to be addressed.

In my case they wanted a new WDI (Wood destroying insect inspection) So the Underwriter cleared the "USDA to approve" condition and replaced it with "Certification that structure is free of Wood Destroying Insects"

We got the new WDI and then I closed the next day.

[dehabel]

USDA had no conditions according to my loan officer.  I am so tired of this!  I just want to be done.

[Anonymous]

Keep us posted!! Sending good vibes your way that it comes back from the Underwriter soon.

[dehabel]

Got the clear to close today - scheduled for Monday at 4pm...can anything go wrong?

[Anonymous]

It sounds to me like you are home free! How exciting!! Congratulations!!!

[Anonymous]

I'm pretty much in the same boat lender approved then usda approved just waiting for the clear to close date. Loan officer told me Friday usda approved it and to set up a walk through