topic Re: Done with UW...now off to USDA. in Mortgage Loans

Done with UW...now off to USDA.

Anonymous — Mon, 06 May 2013 12:55:04 GMT

OMG! I was in Underwiting for literally almost 2 months! The house I am getting is a flipped house and was told it took longer with flipped houses, but 2 months? My goodness. I'm in Georgia and getting a USDA loan. Anyways, HOPEFULLY, UW will send my file to the USDA TODAY. As of today (5/6), they are reviewing files from 4/26. Ugh. My closing is set for MAY 15th. I was supposed to close on 4/30, but the lender/UW took soooo long, that my realtor had to ask for a May 15th extension. I am getting soooo tired waiting. It's been such a long process since Feb 26th when I put in my offer.

Does the USDA receive the file the same day it's sent? Also, how long does it take them to review it? What are my chances of being rejected? My LO doesn't forsee any issues.

Should I start packing now and scheduling Utils transfers or should I wait until the 15th IF/WHEN I hear something?

Re: Done with UW...now off to USDA.

Anonymous — Mon, 06 May 2013 13:05:21 GMT

Two months is a long time..wow. I met with my LO on 4/17 to discuss loan options and completed application for USDA loan. Hit a snag in underwriting on 4/30 for missing w2 that I forgot to submit. Corrected that and as of 5/3 my loan had been sent to USDA. I do not have a closing date yet. I really wish I did. I hope someone can answer your questions because I have the same ones especially about the length of time it takes them to review it. Good luck and I hope things go smoothly and quickly for you.

Re: Done with UW...now off to USDA.

swtneka — Sun, 09 Jun 2013 01:04:42 GMT

any updates?

Re: Done with UW...now off to USDA.

Anonymous — Sun, 09 Jun 2013 01:25:27 GMT

I closed on June 4th. Im having the master bath remodeled and will move in the end of the month. God is good!!!

Re: Done with UW...now off to USDA.

swtneka — Sun, 09 Jun 2013 02:08:44 GMT

Aww that is great... and yes he is... congrats on your new home