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USDA loan turn around time?

Our loan file was submitted to USDA yesterday 05/02. Does anyone have any idea on how long it will be until we can expect to hear from them? We are in NC. by henrys_524_779 from Cary, North Carolina. May 3rd 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 4,994 contributions

Most lenders are flooded with loan applications for HARP refinance transactions... Purchase transactions usually take precedence, so they will try to close within the allotted time on the purchase contract.. That being said, USDA loans are underwritten twice.. once by the lender and once by USDA... 10 days (business days) is not unreasonable... 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

May 3rd 2012
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Kent Stanton (KentStanton)
#37 ranked lender in North Carolina - 5 contributions

Typically it will take 5-10 business days.

May 3rd 2012
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Hugh W. Page (hpage@fmlending.com)
#42 ranked lender in North Carolina - 2 contributions

I submitted a loan to them yesterday and was given information that they are currently working on files received on 4/23. So you can expect about a 10 day turnaround.

May 3rd 2012
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Steve and Eleanor Thorne (Eleanor Thorne)
#7 ranked lender in North Carolina - 22 contributions

We received 4 approvals back today - one was submitted on the 11th of April - Others were submitted as late as the 20th, and we received the certs back in time for April Closings. NC USDA RD offices incorporated a new Underwriting "system" in March - all files are now sent to Raleigh, and then they are sent "out" to underwriting. It depends on which RD office gets your file. It will be a good 10 business days.

May 3rd 2012
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Ken Baltes (kbaltes)
#2 ranked lender in North Carolina - 230 contributions

Our loan file was submitted to USDA yesterday 05/02. Does anyone have any idea on how long it will be until we can expect to hear from them? We are in NC.I am submitting files to the USDA in NC and yesterday they were working on files from 04/23/2012. So they are about 9-10 days behind. The turn time went up a lot during spring break.

May 3rd 2012
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Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 180 contributions

Every area is different. Our USDA here in Nashville, TN has a 2 day turn around time. I believe you can go on their website & they should have turn times posted.

May 3rd 2012
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Bert Carpenter (BertCarpenter)
#42 ranked lender in Arizona - 1,733 contributions

USDA loans can take as little as 3 working days and as long as 20, depend on how much volume your USDA center has. Generally you are looking at between 7 and 12 working days (1-1/2 to 2-1/2 weeks) ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

May 4th 2012
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