Home Buyer, Home Buyer in Loudoun County, VA

USDA loan processing times in Northern Virginia

Asked by Home Buyer, Loudoun County, VA Tue Oct 2, 2012

Hi, I am trying to buy a home using the USDA guaranteed SFH loan program...My lender told me that my loan was just submitted to USDA's online system yesterday Oct 1, 2012, and that it could take 30 BUSINESS days before USDA will approve. I am supposed to close on Oct 15th, but I'm doubting that can happen. Is 30 business days for USDA guarantee approval the norm? Or is USDA just trying to add some extra buffer time?

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Do not think this will be a short term loan from my experience here. They are very thorough, another FHA inspection should take place as well. The process is long but benefits(interest rate, little risk) are the benefit! Do not get flustered, bear the time frame and all will be well!
0 votes Thank Flag Link Tue Oct 2, 2012
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