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USDA guaranteed

Contributor

USDA guaranteed

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

Message 1 of 6
5 REPLIES
Member

Re: USDA guaranteed

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.

 

Message 2 of 6
Contributor

Re: USDA guaranteed


shnn18 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! Smiley Happy

Message 3 of 6
New Member

Re: USDA guaranteed

We are in oregon it took about a week for us to hear back
Message 4 of 6
Highlighted
Established Member

Re: USDA guaranteed

Mississippi - 3 weeks. Went through it twice and 3 weeks both times. (Had to add repairs to loan.)

Message 5 of 6
New Contributor

Re: USDA guaranteed

In Ohio waiting anywhere from 20 to 25 days. Suppose to close august 31 but looks more like first or second week of September
Message 6 of 6