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The underwriting for my mortage company took only a few days and now my loan has been shipped to USDA. I was told it is a 30 BUSINESS day turnover. The estimate settlement date is December 17th
Now I have two questions:
1. Why is does it takes so long to take? I am curious about the what the USDA actually does with the loan.
2. Is the 30 day turnover means that it will done in 30 days or may it longer or shorter? I have not made any major moving plans but I was hoping to spend Christmas Day at my new house.
I did re-sign the settlement paperwork to include the new date.
It's simple - they are one of the only 100% financing programs out there and are working from a limited federal budget. Put some money down and you can close in 2.5 weeks with another loan program.
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