How long does it take to close a USDA Rural Development Loan?

Finally, once you have those numbers established, then make sure your agent sets the proper expectation sin your North Carolina Offer to Purchase and Contract paying special attention to the Due Diligence period noting that all approvals must be obtained prior to the expiration of that period otherwise your Earnest Money Deposit could be at risk and should the seller become impatient or receive a better offer you could also lose the house.

Today my company is processing government loans such as USDA, FHA, and VA loans that were received on Thursday of last week.

That means that when you consider that normal processing time can be about two weeks, if you add in the three weeks that USDA is taking to the normal processing times, then six weeks from the date of your sellers acceptance of you offer to purchase ought to be a realistic processing period.

Of course these numbers can change with the market so before you make any offer to purchase, pick up the phone and call your mortgage lender. If you are in the Raleigh area, call me, I’d be delighted to help!