Average time to close FHA vs. USDA loan in CA?

FHA should be 3 to 4 weeks, start to finish. USDA.. Much longer.. USDA loans are underwritten twice.. Currently USDA is reviewing packages submitted on 2/13, so they are 3 weeks behind.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

USDA can take up to double the time an FHA loan can take.

Hi, it will take approximately 30 days with Prime Lending. I am an expert in FHA and USDA for the past 22 years and a direct lender in California. Please give me a call at 949 224-8517 and I will be happy to walk you through the process and answer any questions.

Depends on the bank

USDA loans are only for rural areas. They take a long time. 60 days is average. You put no cash downFHA loans are for cities or rural. They take 30 days. You put 3.5% cash down. Only you can decide if one is "better"..also keep in mind You only get to borrow based on the appraised value. If the appraisal is less than the contract price, you can cancel the sale; or you can pay the difference in cash so the seller gets his money.I work here in Irvine, CA give me a call @ 201-673-7205 and we can see if you can qualify for FHA if you want to close in a timely manner.Thank you

FHA loans should take 30-40 days if your paper work is in order. USDA loans take double the time as after the loan is approved with the bank it is sent to the local USDA office for their approval. In many areas of the country the local offices are busy and backed up.

Contact one of the lenders on Lender411, who are part of this forum, and serve your area.

Like William stated above is that an Fha loan Can be closed in only 8 days if you have a lender that can do it in that time frame. USDA first underwritten by your lender AND then by USDA which is about 3 weeks right now. Contact a Lender411 loan officer for some help and advice.