USDA home buyers, sellers and realtors should take note that USDA RD mortgage closing time frame is currently 60-70 business days. This is just for USDA’s part of the process. Remember it takes the bank/lender about 2 weeks to go through the underwriting, appraisal process before a loan file can be sent to USDA for final approval. So home buyers should figure closer to 90 days for the entire process from start to closing. This only applies to Florida properties.
USDA Florida has been working with a limited staff, in addition the Gov shutdown stopped everything for a few weeks. We expect these longer turn times for a few months likely into 2014.
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