Comments on: USDA Loans Taking Longer – Review Process

By: Fred Chamberlin

Fred Chamberlin — Wed, 17 Nov 2010 19:20:04 +0000

The USDA loan will almost always save someone money over the FHA loan. However, the difficulty with USDA loans in comparison to FHA has to do with property location. Also, FHA has the 203k available for those properties that need repairs.

By: Fred Chamberlin

Fred Chamberlin — Wed, 17 Nov 2010 19:14:32 +0000

Depends on what you are referring to laane. The approval from USDA is in addition to the normal underwriting time and depending on their workload, we have seen this part of the approval process taking over 30 days or as few as 3.

By: Phil Harris

Phil Harris — Wed, 17 Nov 2010 16:55:33 +0000

This is true that USDA loans take a longer time to get approval for unlike the quicker FHA loans, many people might find that this extra time needed can end up saving them a lot more money in the long run.