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Hello I am a first time home buyer. My realtor said my file was received at usda on the 11th. Well I called today and they said it was received on the 15th. They told me they are currently working on loans from the 10th. So we are five days off of when they were sent in. So how long do you think itll take them to get to my loan? The mortgage underwriter has already approved it and were pretty thorough so I think ill be approved. My closing date is supposed to be the 24th but im starting to think that isnt going to happen. All insight is appreciated.
30 days is aggressive but makeable. If they received it in on 15th, I would be shocked if it was funded by the 24th, but it's hard to tell where exactly you are in the process.
Well was told early this evening that they approved me but not the house because the address used to read drive on the end and now it's avenue. So once that is fixed I should be good .
My loan officer mail all the loan documents to USDA last week 7/26 is suppost to come back on the 8/6 and closed on the 8th , well my loan officer say it will be till the 9th so we can closed on the 12 th . We been waiting to move since beginning of July and it's been pass 45 days .
You can call your regional USDA office. They are usually surprisingly nice, and will tell you when your file was checked in, and when they expect to get to it.
From what I have read it really depends on how backed up USDA is. The eligible property lines will be redrawn and will go into effect on Oct 1st, we (like many others, I assume) made the choice to go forward with (hopefully) buying our house, b/c our area may not be eligible after the fiscal year ends. Our loan officer told us today that USDA-- at least here in our area, Ohio,-- is now taking 19 days. When we put our offer in two weeks ago, it was 16 days. Hopefully all goes well and your file goes through quickly!
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