cancel
Showing results for 
Search instead for 
Did you mean: 

GUS vs usda final approval

tag
Anonymous
Not applicable

GUS vs usda final approval

We were suppose to close last Thursday but my buyer has delayed bc of paper work issues. We have been assured that it has now been sent to USDA and should know within 3 days and close 24 hours later. We asked the lender for confirmation that it was sent to usda. He forwarded us an email showing is was uploaded, but the email says usda Gus and has gus application number. Is this what the final submission to usda would look like? I though it was sent to GUS in the beggining? I just want to make sure it was truly sent for the final USDA approval and we will truly close this week!
Message 1 of 2
1 REPLY 1
me12345
Frequent Contributor

Re: GUS vs usda final approval

Things are handled differently depending on if your working with a Broker or a direct lender but it does sound like it was submitted in your case.

 

GUS or the Guaranteed Underwriting System is the (AUS) or Automated Underwriting System that the USDA uses...the lender would first run the "File" through the GUS system for an AUS approval  before it's send off to the USDA, if you have a GUS approval then you should be fine.

 

Running GUS is part of the approval process for a USDA loan.

 

Thanks,

VA & FHA down to 550...
Licensed Senior Mortgage Loan Officer in the states of Arizona & California
Specializing in VA, FHA, USDA & Conventional loans. My company is also licensed in 12 states, Arizona, Colorado, Nevada, California, Oregon, Washington, Utah,
Alaska, New Mexico, Texas, Illinois and Florida
Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.