Closing time on Rural Dev. loans
We recently (FINALLY!) got an offer and accepted it on our home in MT. The buyer was prequalifed for a Rural Development direct loan. We're just waiting on the inspection that was done today to proceed with things. Our realtor told us that Rural Dev. sometimes drags their feet on closing, but she is still hoping for a closing date by the end of April/beginning of May. Then we talked to our lender, as we are waiting to close on the home we're buying here, and she said to expect to wait about 90 days to close on the house we're selling! She thinks Rural Dev. will take that long, especially since he went direct with them. Can anyone share their experience with length of time it took to close on this type of loan? Thanks so much!
Georgia
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