Reply
New Member
Posts: 3
Registered: ‎08-11-2012
0

usda guarantee questions- we have to close this week

We are purchasing a hud foreclosure. They say we have to close by this friday or write it off (we have already done extensions). Well usda uw approved us already and our lender underwriter is working in getting everything finished up for closing. However i am very lost. What exactly are we waiting on. What happens when they are done does it have to go through usda for another approval of some sort? I guess i was just hoping for feedback on the process from here. Thanks in advance!
Established Member
Posts: 42
Registered: ‎03-20-2012
0

Re: usda guarantee questions- we have to close this week

We were approved but then it took 3 or so days to get the actual approval paper back from USDA before closing. Also, the title package takes two or so days to write up so you'll be cutting it close. If USDA sends the approval paper in Monday or Tuesday you should be fine!

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.