Financing in Charlotte>Question Details

Anthony Urso, Home Buyer in Indian Trail, NC

How long before usda notifies lender?

Asked by Anthony Urso, Indian Trail, NC Mon Jul 15, 2013

We have been approved by our lender's underwriting dept and our file was sent to usda on 6/26.

I called usda and they are now processing files submitted on 6/28 so they should have reviewed out file by now.

How long does it take usda to notify the lender of final approval?

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Answers

5
Good evening, Anthony:
We usually expect to hear back from underwriting on USDA in 2 to 3 weeks. If you appreciate an answer, please give thumbs up. For the most helpful answer, please say thanks with a best answer click.
0 votes Thank Flag Link Tue Jul 16, 2013
As of today, the USDA is currently reviewing files delivered on 6/27 so you should certainly follow up with your loan officer/lender to see if there are any other conditions regarding your loan or if the Conditional Commitment has been issued so that you can proceed to Closing.

They are currently on a 12-13 business day turn time schedule so it does require additional patience on everyone's behalf.
0 votes Thank Flag Link Tue Jul 16, 2013
Anthony,

USDA can take up to a few weeks to review a file. If they are looking at files on the 28th of June that have been submitted then they are reviewing yours and you may want ot check with the lender to make sure they did not send it back for any odd reason or missing something.

Dave diCecco
Realtor/Broker
Coldwell Banker United
Cell:704-519-7895
ddicecco@cbunited.com
http://www.davedicecco.com
0 votes Thank Flag Link Mon Jul 15, 2013
It depends on how backed up the USDA office is. 2 to 3 weeks is typical.
Web Reference: http://Www.jonnyagent.com
0 votes Thank Flag Link Mon Jul 15, 2013
I have told my buyers to plan on 3 weeks for USDA to get back to the lender, once they have it.(So, they must be back logged by a week) Great choice on loan program! Almost there! USDA loans are worth the wait.
0 votes Thank Flag Link Mon Jul 15, 2013
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