U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-29-2012, 03:07 PM
 
15 posts, read 30,692 times
Reputation: 17

Advertisements

Hey was suppose to close august 31 but thats not going to happen because the appraisal took so long. But as of august 21 my lender said my file has been sent to usda they are currently reviewing apps from august 7 so I have a few weeks befor they look at mine. I guess my question is what do they look for that the banks dont. There was no problems geting approved through the bank and the bank underwriter had no issues besides waiting for the appraisal.so if the bank approved it should I be good to go or does usds do things differently. This loan is in Ohio
Quick reply to this message

 
Old 08-29-2012, 07:12 PM
 
Location: OK
2,717 posts, read 6,294,689 times
Reputation: 1844
Seems to me the problem is not the appraisal but the fact that USDA is backed up.

As an appraiser, it seems to me that realtors set closing dates without any thought to the remaining pieces of the deal and what it takes to get those done.
Quick reply to this message
 
Old 08-29-2012, 09:05 PM
 
15 posts, read 30,692 times
Reputation: 17
No I'm not blaming the appraisal at all. It took the bank 3,weeks it seemed to order it.
Quick reply to this message
 
Old 08-31-2012, 06:12 AM
 
Location: MID ATLANTIC
7,602 posts, read 17,639,445 times
Reputation: 8084
Our underwriter is tougher than USDA. If it gets by our guy, USDA is just a very critical rubber stamp document. I'm betting you are fine.
Quick reply to this message
 
Old 09-02-2012, 01:04 PM
 
46 posts, read 371,099 times
Reputation: 41
After going through my recent home purchase, I'd agree with SmartMoney. If an underwriter worth their weight approves your loan, the USDA approval is a slam dunk! Good luck!
Quick reply to this message
 
Old 07-08-2015, 08:35 AM
 
13 posts, read 10,589 times
Reputation: 11
Can you get a usda loan for more than the appraised value? If the value is 130 can you get 140 for closing cost ect
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top