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Old 08-01-2013, 02:31 PM
 
Location: 78250
923 posts, read 2,075,953 times
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Does anyone know what a USDA conditional commitment is and how this can impact the buyer in the delay or receiving the keys to the house?
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Old 08-01-2013, 07:26 PM
 
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A conditional commitment is a step in process of the USDA getting ready to guarantee the loan. It means you're very close to receiving the loan guarantee. When the conditional commitment is issued the lender has to go back over your finances, your job status, etc. and make sure that there have been no changes since loan application which would adversely affect the loan. That info is sent back to the USDA and if all is well, then the loan guarantee will be sent to the lender.

Be patient, you're getting there. A conditional commitment is a good thing,
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Old 08-09-2013, 12:18 PM
 
Location: 78250
923 posts, read 2,075,953 times
Reputation: 333
Our loan commitment came thru yesterday, and we will be going to the title company on Tuesday to sign everything and get the keys to our house

I am in TX and was always calling their status hotline 254-742-9781
LO submitted our file on July 19 and USDA got to our file just yesterday (LO was always keeping me in the loop).

hope this info helps others.
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