Rural Development Turn Times

When it comes to getting a mortgage timing is everything.  “When are we going to close?” is the question we get asked more often than anything else.  The Real Estate Agents, buyers, and sellers all need to know when closing is going to occur.  One of the biggest challenges with Rural Development financing is closing time frames.

The Michigan RD offices current turn times:

5-10 days Business Day Turn Times

* We try to keep this as up to date as possible email us if you need more info


With RD the basic process works as follows:

  1. Offer accepted
  2. Start loan process & order the appraisal
  3. Appraisal received  (after 1 – 2 weeks)
  4. File goes to underwriting
  5. Once files back from underwriting it is sent to RD for there approval.
  6. This is where we sometimes get caught in traffic.  Sometimes RD turns files in a matter of days, sometimes weeks or even months.  The file will literally sit up there in a stack and they review them in the order received.  They get to it when they get to it.  Current turn times are posted above.
  7. File comes back from RD, our underwriter clears it for closing
  8. Closing scheduled a few days later.

So what’s all that mean?   Basically if a normal loan takes 30 – 45 days to close, take whatever the above turn time is for RD and add it to it.   Generally speaking you will see those RD turn times very fast in the beginning of the year, then as spring hits and things pick up they get more and more backed up, by November/December they are starting to catch up again and the cycle continues.

Although RD approval is more of a formality it still is a requirement that the RD fairies bless the file prior to closing, so we are often stuck waiting.

Latest Blog Post

November Lunch and Learn / Webinar: Low Down Payment Options For Home Buyers

Money, Money, Money, Money

One of the biggest myths out there is that you need a bunch of money to buy a house.  That’s simply not true.  There are a number of No and Low down payment options for home buyers.  On top of that you don’t have to be a first time home buyer to access many of those programs.    During our next lunch and learn we will cover all the different options out there for buyers looking to minimize their down payment.  Over the last couple years its been harder to get a lot of these types of offers accepted.  However, with the market going back to a much more “normal” state it’s not nearly as hard as it was just a few short months ago.  This is the perfect time for Realtors to reconnect with their past customers and get back out there looking.   Come check out this lunch and learn and get a refresh course on low down payment options for buyers!

Hot Topics We Will Cover

Here is a list of some of the things we will cover during the event:

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