Cleared to Close?

[Anonymous]

Ok here is the timeline of events so far.....

Monday July 19: house first shows up in MLS that evening

Tuesday July 20: I go see the house and put in an offer

Wednesday July 21: Offer is verbally accepted

Thursday July 22: Negotiate closing date with sellers for Sept 8, received insurance quotes all approx $2500/year

Friday July 23: Fully executed contract, met with Mortgage broker to sign and submit official loan application, received Good Faith Estimate

Monday July 27: Home, Termite and Wind Mitigation Inspections conducted

Tuesday July 28: Appraisal conducted

Wednesday July 29: Sellers ask to move closing date up to Sept 2

Thursday July 30: Bank called to confirm employment which told us that my file was now with the underwriter

Monday August 4: notified that appraisal was back and amount (about $17k more than I am paying), received Wind Mitigation Report and adjusted Insurance quote of $1788.99/year

Tuesday August 5: received copy of appraisal and found out house is bigger than originally thought, locked mortgage rate

Wednesday August 6: Received Underwriting Approval with conditions - July bank statements (as they were not available when I applied), court order for name change after divorce and another copy of June Bank Statements

Thursday August 7: Submitted supporting docs

Tuesday August 11: Cleared to close

Now my question is this...should I be concerned that something can go wrong or will the bank need more info between now and closing since it is still about 2.5 weeks away? Just seemed to come so quick and so early compared to my closing date. I really can't move up closing as the current owners don't close on their new house until late August. So can I really relax now and get ready to move and own my first home? I know nothing is guaranteed but just wanted to make sure I was not missing another step in the process.

Thanks in advance!

[GRILLMASTERNEEDAHOUSE]

Getting past the UW is the most important part to me. Nothing else matter if you not approved for the loan.

[nathan]

Hey, your process seems to be very painless. Relax and start choosing the paint colors. Once you get that green light from the underwriter, you are good to go. I wish I was in your shoes right now. What lender are you using if you don't mine? They seem to be fast.

[SonorityGenius]

You're not closing until 2.5 weeks??

When does your Rate LOCK expire?? Make sure you find out, and close 2-3 days BEFORE it expires

[Anonymous]

I wonder why they asked for court order of name changes? i became us citizen i wonder if they need that because i lost my certificate and it cost 900 to renew

[BungalowMo]

So far things look good for you!  You didn't mention...how did the home inspection go??  Any issues or anything need to be fixed, updated Etc????

[Anonymous]

Thanks!

Oh the inspection was aces. The Inspector was very impressed with condition of the house and only found minor things...a branch in front yard needs to be cut back as it is touching the roof, the grout is wearing a bit thin on a couple of tiles in the Master shower. The AC is ready for yearly service check ( it is only 2 years old woohoo!)  and the seal around the vent in eh kitchen where the microwave over the stove is is leaking some air into he cabinets so needs to be resealed. He went through everything and took about 2 hours. Oh yeah the dishwasher works but it is very very loud...sounds like rolling boulders through the kitchen...so he did say that would drive him crazy! LOL He also said I will need a new roof in about 3-4years as this one is nearing its end since it is the original roof.

The termite/pest inspection also went very well with no issues found.

As for the name change....since that just happened a year ago so my credit report has things in both my married name (some of my creditors are still reporting my married name) and my current maiden name, I think they just wanted to verify the court order of the divorce and my current legal name.

My rate lock expires on Sept 3..so cutting it close I know. But have to wait for current owners to move out, plus wanted to have 2 months before paying first mortgage payment as I still have to pay rent for September and for movers etc...

I am going to pay my Insurance premium to get an insurance binder today due to it being hurricane season and insurance companies won't underwrite at closing if there is a storm(Tropical or Hurricane) in the Gulf or Atlantic depending on where the storm is and how large it is etc determines what areas they black out.