Posted on: 29th Aug, 2012 02:38 pm
Hey was suppose to close august 31 but thats not going to happen because the appraisal took so long. But as of august 21 my lender said my file has been sent to usda they are currently reviewing apps from august 7 so I have a few weeks befor they look at mine. I guess my question is what do they look for that the banks dont. There was no problems geting approved through the bank and the bank underwriter had no issues besides waiting for the appraisal.so if the bank approved it should I be good to go or does usds do things differently. This loan is in Ohio
Hi josh!
Welcome to forums!
I don't think there is anything that USDA will look differently than what the other banks will do. However, yes, it is true that they will check out whether or not the property is located in a rural area. USDA loans are mainly available for properties which are located in rural areas.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I don't think there is anything that USDA will look differently than what the other banks will do. However, yes, it is true that they will check out whether or not the property is located in a rural area. USDA loans are mainly available for properties which are located in rural areas.
Feel free to ask if you've further queries.
Sussane
Welcome josh,
To know all about USDA loans, check out the given page: "http://www.rurdev.usda.gov/rd_loans.html".
To know all about USDA loans, check out the given page: "http://www.rurdev.usda.gov/rd_loans.html".