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Did u ever get denied for house loan right before closing?

I heard of alot of people geting denied right before closing? We have been trying to get a USDA loan . We put in a offer July 27th and it is now sept 4th ..Still have not heard anything . I think we are gonna get denied . Anyone have any similar stories or advice?

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Anonymous

Asked by Anonymous at 9:52 PM on Sep. 4, 2010 in General Parenting

Answers (4)
  • I have never heard of getting Denied right before closing, they wouldn't be able to set a closing date unless everything was Approved- i would call whoever you are working with to see what is going on; you should of heard something by now! Wishing you lots of luck!
    daisyb

    Answer by daisyb at 10:00 PM on Sep. 4, 2010

  • We put an offer down on July 5th ans they just told us our closing should be no later then sept 17. We have a 203k FHA loan. Our realator actually told us that throughout the whole process you should be keeping in contact with the morgtagt company at least 4 times a week just to make sure everything is still moving forward. So I an email every other day asking if we are still on track
    MelSwim7

    Answer by MelSwim7 at 10:09 PM on Sep. 4, 2010

  • why would it take from July 5th all the way to sept 17th?? A normal closing only takes 30 to 45 days? That is a really long time. Im a real estate agent. Have u already been fully approved for sure ?
    bubbaelea22

    Answer by bubbaelea22 at 10:31 PM on Sep. 4, 2010

  • You need to all and check on your financing. it is not normal to hear nothing for this loan. Mortgage companies are really busy right now with refinances because the rates are so low but they should be communicating with you.

    MelSwim and bubaelea- 203k loans are a nightmare for lenders to get finalized so I am sure that is part of of the delays. I am glad that we don't do them because the requirements that need to be met by FHA take a long time.
    Kari126

    Answer by Kari126 at 11:05 PM on Sep. 4, 2010

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