Home Selling in 48150>Question Details

Trent White, Home Buyer in Livonia, MI

I applied for usda loan appraiser will b there this week. how long does it take to hear back and get loan finished at this point?

Asked by Trent White, Livonia, MI Wed Mar 13, 2013

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4
Had one the other day and it took less than a week on a FHA.
0 votes Thank Flag Link Tue Mar 26, 2013
Depends on your mortgage company. As stated, typically a week on the appraisal. Loan closings (origination to close) in Metro Detroit range from 30-120 days. We close our loans in 30 days.
0 votes Thank Flag Link Thu Mar 14, 2013
If you are the buyer, then your lender for the loan will order the appraisal, and it depends on each
lender how then the loan process proceeds, but it usually takes any appraise from the day he does the
appraisal on the site, about a week to produce the detailed report....

Does this answer your question?
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0 votes Thank Flag Link Wed Mar 13, 2013
YES THANK YOU! ONCE THE REPORT IS BACK DO YOU KNOW HOW LONG IT TAKES TO FINISH UP THE USDA LOAN
Flag Wed Mar 13, 2013
It generally takes about a week any more to hear back from the appraiser. The lender has to contact an appraisal management company, who hires an appraiser, then appraiser gets the appraisal back to the management company who runs it through quality control. Then it gets sent over to your lender. So it is quite a process and that is why it takes approximately a week.

Then I would talk to your lender, each one is different. This usually goes through the banks underwriter and then off to more underwriting, then back to your bank. So it could take another three weeks ish after the appraisal is completed. Remember that it is a temporary wait for a home you will love for a long time.

I hope this information helps! Best Wishes!
Web Reference: http://www.GoMelinda.com
0 votes Thank Flag Link Wed Mar 13, 2013
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