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Kersey : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying1
  • Home Selling0
  • Market Conditions0

Activity 6
Mon Aug 27, 2012
Hi Jwray,

USDA is taking a long time to get final approval all over the country because of budgetary cut backs.
0 votes 3 answers Share Flag
Fri Feb 10, 2012
Jeff & Ada George answered:
After you make mortgage application, supply the loan orginator with all your personal documents, an apprasial is ordered and when they have all the documents in the file it is moved over to the underwriting deparment. the underwriter typically takes 48-72 hours to review the file. The file can be approved 100% or approved subject to additional documents. After additional documents are received you can ususally proceed to closing within 48-72 hours. ... more
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Fri Feb 10, 2012
Sheri asked:
And we were approved now it comes back where we are not because of subdivision problems, but our lenders is having state to review it, because the subdivision problem is not a yes or no…
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Tue Jan 31, 2012
Hi Sheri,

USDA can take 24 hours to 4+ weeks depending on how backed up the local office is. You should be able to pacify the sellers by providing a clear to close letter pending USDA final approval from your lender. ... more
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Tue Jan 10, 2012
Sheri, While all of these answers are pretty good, YOUR loan officer is your best resource. I'd stay in close contact with your loan officer and ask all of these questions. If you need me feel free to contact me. Chad
Chad E. Bahnsen- Mortgage Professional
Mortgage Network, Inc.
14 E. Stratford Ave Ste 3C
Lansdowne, PA 19050
Cell: 610-457-7262
Office: 610 622-2212
Fax: 1-866-590-3806
E-mail: NMLS # 127719
... more
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