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How long is the current turn around time on USDA loans in Ohio? It went to USDA two weeks ago and still no approval.

by mfs811_834_467 from Beverly Hills, California. Aug 10th 2012 Reply


Gary W Smith (garywsmith)
#1 ranked lender in Washington - 104 contributions

In our area, USDA is taking about 20 days to get back an answer. Check with your lender and make sure that they have already underwritten the loan and you have lender approval. In talking with USDA, most areas will want to see the lender approval prior to USDA underwriting and may be sitting on it awaiting lender approval if not. Your loan officer should be advising you of any conditions on the lender approval and getting those cleared while awaiting USDA. You should be getting close now to getting an answer.Gary W Smith - NMLS#53963 - First Priority Financial (866) 350-6140 www.cme4loans.com

Aug 10th 2012
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 4,620 contributions

USDA loans are underwritten twice.. Once by USDA and then again by the lender... USDA current turn times are running 3 weeks, so it really depends on where in the process you are in.. you should call your mortgage broker and ask for an update.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Aug 10th 2012
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