underwriting tagged posts

Worried about being denied in underwriting?

My boyfriend and I are buying our first home in Minnesota. My credit score was 630, bf was 680, our combined income is about 40-45k. We were pre-approved for a USDA home loan up to 135,000, and offered on a home for 129,900 and got accepted. The inspection was done and the home owner fixed all issues and the appraisal came back more than what we offered and we are now in the underwriting process. My question is what is the likelihood that we may be denied the loan? They said we should hear back by the end of the week or Monday, but I have been worried sick about it. I had to fix a few things on my credit before we got the pre-approval and don’t know if that matters or not. Thanks for any advice or help.

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USDA Home Loans – Manual Underwriting

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

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!

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