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How long did your USDA loan process take..

kfrisciakfriscia
in Buying A Home
The bank accepted our offer and we are turning in our documents (w2s, paybstubs etc..) to our loan originator tomorrow... How long did the process take? Was it a smooth process? She said she expects to close September 23rd.
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Re: How long did your USDA loan process take..

  • rocknmumrocknmum
    It took my parents about a year. However they had to wait until the senate? passed the bill to allow more funding to be dispersed.
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  • shammy79shammy79
    This was after we were preapproved, and had submitted all of our documents to our broker, after inspection, etc.-- 2.5 months. Our closing was pushed back multiple times simply due to the backlog of applications. This was 2 years ago.  We actually took possession of our house before we closed and paid rent. (This can be very tricky, and I wouldn't advise it in most situations.)
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  • jennyinyellowjennyinyellow
    We put our offer in at the beginning of Dec. and closed Jan. 26.
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  • makinithappenmakinithappen
    Mine went as planned.  I actually built a house and started the loan paperwork the beginning of March.  I closed June 19 which was the week following the final inspection on the house.
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  • realisticdreamsrealisticdreams member
    Eighth Anniversary 100 Comments

    We are in the middle of a SS, we have gone to underwriting once (well twice if you count the paperwork that got 'lost' and everything is set to go).  We have everything done so that once we get our bank approval we won't have to worry about all of this stuff.

    Our LO told us the funds are there waiting for us...our set closing date right now is 9/30/11

    GL.

    we have a rural development loan through USDA 

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  • mrsr708mrsr708
    We put our offer in on May 17th and closed on July 21st. The entire process went smooth with no issues.
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