need some guidance... usda loan final approval

[Anonymous]

After much stress and lots of paperwork, our LO told us today that our file is being sent to the RD office and it should be about a week or so. Are we in the clear at this point? Should I start packing? I'm really nervous that after all of this something may go wrong. If someone could just let me know a basic rundown of what happens after RD gets the loan package that would help me alot. Do they have to run our credit and get our bank statements again or do they just go by what has already been turned in to them? Thanks a million for everyone's help. It has been invauluable to me during this process.

Skotti

[Anonymous]

You should be fine. They review all the documents that the lender has assembled and are unlikely to update them at this point. They'll be looking closely at the appraisal and the property to make sure they qualify, but if you have a competent LO the chances of things going awry are small.

[ShanetheMortgageMan]

Yeah it's more or less just reviewing the documentation to make sure all is in the file, USDA isn't going to deny the loan based on credit, etc. at this point, that is a lender call.