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Has anyone recently closed on a USDA guaranteed loan. My file was sent to USDA to review and I am just curious on how long that takes. I'm in Texas.
Thanks
Hello, we are in Michigan and our file was sent to USDA on Thursday, August 9th. We were told they were currently processing files from July 31st, and to give a day for each day that they are behind. So, we are expecting about 10 days before we hear anything. Then our lender says it goes back to the Underwriter, which could take up to 72 hours and then we will get the clear to close.
@Anonymous wrote:Hello, we are in Michigan and our file was sent to USDA on Thursday, August 9th. We were told they were currently processing files from July 31st, and to give a day for each day that they are behind. So, we are expecting about 10 days before we hear anything. Then our lender says it goes back to the Underwriter, which could take up to 72 hours and then we will get the clear to close.
Thank you for the information!
Mississippi - 3 weeks. Went through it twice and 3 weeks both times. (Had to add repairs to loan.)