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All this waiting is killing me!

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Anonymous
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All this waiting is killing me!

I'm now waiting for the clear to close -- final conditions were submitted on Friday. Shouldn't I have heard something by now? I'm very anxious about getting this loan. I had originally applied for USDA guaranteed and was denied. So the loan officer submitted it for FHA and it was auto approved! Go figure. Still I'm on pins and needles and really just want the whole thing to be over already!
Message 1 of 8
7 REPLIES 7
RAISEUP
Regular Contributor

Re: All this waiting is killing me!

Thats makes 2 of us and probably dozens more on this forum. I have never anticipated anything else this big in my life. On top of that FHA interest rates are rising daily. I wish I had more answers. Hang in there.
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Message 2 of 8
Anonymous
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Re: All this waiting is killing me!

I'm going crazy too. The VOD was requested last Thursday and I'm hoping they get back to me by the end of the week. The money's there, but I'm always nervous that something's going to go wrong. I cannot wait until we close on 6/24. Two more weeks.....I can make it, right?
Message 3 of 8
medicgrrl
Valued Contributor

Re: All this waiting is killing me!

I know how you all feel.  I haven't had anyone else do my mortgages since 1991.  I was in the mortgage industry for 15 years and they were always done thru my employer.  Now that I am out of the industry I know how it feels to be on the other side!  It is sooo frustrating!!


EQ 778 EXP 782 TU 729
Message 4 of 8
Anonymous
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Re: All this waiting is killing me!

I am suprisingly upbeat for how long i've been dealing with this. most of the stress comes from time. and i seriously have just stopped worrying about how long something is taking. i can only email/call/fax/ so many times to get peoples attention. Now I just keep telling myself, everything will be over SOON.
Message 5 of 8
Anonymous
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Re: All this waiting is killing me!

Joining your wait!!!   We were all approved last week contingent on the appraisal- appraisal was done on Monday.  We still haven't gotten our official "clear to close"  We are due to close on the 26th.  Soon it will all be done right?!?!

Message 6 of 8
Anonymous
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Re: All this waiting is killing me!

I feel for you guys. In retrospect, I'm glad our situation happened the way it did. We initially offered to close in June and they counter-offered for May. I'm glad because the wait would have been even longer! lol. But closing day will be here before you know it. Good luck!

 

Message 7 of 8
Anonymous
Not applicable

Re: All this waiting is killing me!

Closing July 31.  Waiting for appraisal, which is the key to the whole deal.  If it's under sale price, we need to renegotiate, and possibly end up simply losing the deal if the sellers won't budge; if it's over, with the USDA loan our MB is sure we'll get, we can finance closing costs for the amount above the sale price.

 

Then our MB is convinced rates will come down, so we're waiting to lock.  Until we actually go with a lender and get the mortgage, buying homeowner's insurance can't move forward. 

 

I wish we were closing the end of June, but that would mean paying rent AND mortgage for August (our lease is up at the end of August and last month was paid when we signed the lease, and mortgage payment won't be due until Sept, so August will be rent/mortgage free!  I intend to pay the first year's worth of principle in August, however).

Message 8 of 8
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