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USDA: Conditional Commitments Required Before Closing

12/16/2019

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IMPORTANT NOTICE

This is a reminder to all USDA approved lenders that closing USDA single family housing guaranteed loans prior to receipt of a Conditional Commitment from the Agency is a violation of the regulation found at 7 CFR 3555, section 3555.107 (f). Closing a loan prior to obtaining a Conditional Commitment from the Agency can render that loan submission ineligible for a Loan Note Guarantee, and it could affect the lender's approval status to participate in the program.

Thank you for your partnership and dedication to join us in serving rural American homebuyers. Questions regarding this announcement may be directed to sfhgld.program@wdc.usda.gov or (202) 720-1452.