How long does it take for a USDA loan to close/ underwriting? We are all approved, we just need underwriting?

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So we are good to go on buying a home in a rural area. We have been pre-qualified and totally approved. We just need to know when we can expect the USDA underwriting to be done. We have heard 20 days. Is this true? If so, is this 20 business days or calendar days? Any info will help us out in planning our move. Thanks!

4 comments to How long does it take for a USDA loan to close/ underwriting? We are all approved, we just need underwriting?

  • Jennifer E  says:

    This all depends on whether it is manually underwritten or not. Right now, loans are going through multiple underwriters (sometimes 4) and this makes the process longer. The lenders I work with are saying 45 business days to close a USDA. Hope that helps and good luck. Don’t forget that if you are a first time home buyer to file for the $8000 tax credit. You can file as soon as you close on your house and get the money now instead of waiting to file your 2009 return.

  • Natasha  says:

    I am Natasha Chan i was in need of a loan of $300 000 USD and was scammed by those fraudulent lenders and a friend introduce me to Mr John Clarke,and he lend me the loan without any stress,you can contact him at clarkeloanscompany12@yahoo.com

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  • Ed Atun  says:

    There is more “bureaucracy” involved in a USDA loan so they often take 60- 90 days from start to finish. One thing that shouldn’t take long is the underwriting. Most of it is done on a computer. The only way it should take more than 3 days is if you are not strong qualifiers. Your loan officer is allowed to speak to the underwriter. There are no laws prohibiting you personally from speaking to an underwriter. If it lasts more than 3 business days, make some calls and be blunt…. demand to know if there are problems. Tell everyone that you don’t not want “reassurance”; if there are going to be problems, you want to know now. (The odds are high that there won’t be any problems).

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