topic Waiting for final approval in Mortgage Loans

Waiting for final approval

S_Green77 — Sun, 08 Mar 2009 03:38:46 GMT

We made it thru Automated on Feb 8,and recieved the Pre-approval! We found a home and locked in VA 30 year fixed @ 5% on Feb 18. We submitted all of the docs before we found the house, now we are waiting on final approval to close on March 19. I emailed the loan processor and asked him how long does take to get the final approval, and what are our chances of closing on the 19th his response below:

We should be able to close on the 19th. I have to get the appraisal back and need your house insurance information. Also I need you to complete the attached form and fax back to me, so VA can verify your disability to waive the Funding Fee.

So what do you guys think, are we in the clear pending the appraisal?? Kudos! Thanks!

Re: Waiting for final approval

mamasan — Mon, 09 Mar 2009 14:10:44 GMT

This is where we are in our process. We have been approved now the appraisal has to be approved we close the 20th. You should be good to go as far as your part goes. The house just has to get approved now.

Re: Waiting for final approval

S_Green77 — Mon, 09 Mar 2009 16:01:16 GMT

Thank you for replying! the wait is the hardest part of the entire process! Enjoy your new home!

Re: Waiting for final approval

WannaHouse — Mon, 09 Mar 2009 23:08:55 GMT

S_Green77 wrote:
We made it thru Automated on Feb 8,and recieved the Pre-approval! We found a home and locked in VA 30 year fixed @ 5% on Feb 18. We submitted all of the docs before we found the house, now we are waiting on final approval to close on March 19. I emailed the loan processor and asked him how long does take to get the final approval, and what are our chances of closing on the 19th his response below:

We should be able to close on the 19th. I have to get the appraisal back and need your house insurance information. Also I need you to complete the attached form and fax back to me, so VA can verify your disability to waive the Funding Fee.

So what do you guys think, are we in the clear pending the appraisal?? Kudos! Thanks!

Do you have your insurance all lined up? If so, it looks pretty darn good!!

Re: Waiting for final approval

S_Green77 — Mon, 09 Mar 2009 23:27:43 GMT

Yes! I had the insurance company send over a policy the same day. I havent heard anything as of today. I guess the appraisal is not in yet. You guys are making me feel alot better about this. The 19th is right around the corner,the final word should be any day now! Thanks guy!