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Contributor
Posts: 77
Registered: ‎06-08-2010
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Home Construction Delayed- Locked in Rate & Signed Commitment

Hi,

 

My excitement to be moving in by Beginning of April just turned to dissapoitment when the builders called to tell me that My home Will NOT be completed until JUNE...YES JUNE! I am currently under contract, my rate is locked in at 2.875% until May 7th and my Commitment Letter is signed and states I have to close by May 26th. The Company building my home said that they can probably speed up my home above the others and get me moved in quicker. I just pray to God that something good can happen. I am ready to MOVE already. So, I can't do any major shopping, take any vacations or nothing until JUNE.....freaking kidding me. Sucks Major! :smileymad: Does anyone know if I don't close by May 26th will I have to have my application re-submitted for approval again or can they just extend my rate and application. Please any advice will help. I already text my LO; just waiting for him to call me back.


Starting Score: TU 654 EQ 599
Current Score: TU 682 EQ 661 EX 688
Goal Score: 750


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Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: Home Construction Delayed- Locked in Rate & Signed Commitment


Chinadoll wrote:

Hi,

 

My excitement to be moving in by Beginning of April just turned to dissapoitment when the builders called to tell me that My home Will NOT be completed until JUNE...YES JUNE! I am currently under contract, my rate is locked in at 2.875% until May 7th and my Commitment Letter is signed and states I have to close by May 26th. The Company building my home said that they can probably speed up my home above the others and get me moved in quicker. I just pray to God that something good can happen. I am ready to MOVE already. So, I can't do any major shopping, take any vacations or nothing until JUNE.....freaking kidding me. Sucks Major! :smileymad: Does anyone know if I don't close by May 26th will I have to have my application re-submitted for approval again or can they just extend my rate and application. Please any advice will help. I already text my LO; just waiting for him to call me back.


You can get an extension. Still plenty of time according to the dates you submitted.

Good Luck
May all your dreams and wishes become a reality!
Contributor
Posts: 77
Registered: ‎06-08-2010
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Re: Home Construction Delayed- Locked in Rate & Signed Commitment

Thanks JM-AM. I talked to my LO yesterday and he explained the extension to me. He's a Great LO and told me this happens with new construction. So; I'm pleased and will just wait. Thank God!

Starting Score: TU 654 EQ 599
Current Score: TU 682 EQ 661 EX 688
Goal Score: 750


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Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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Re: Home Construction Delayed- Locked in Rate & Signed Commitment

Enjoy that new home! 

Good Luck
May all your dreams and wishes become a reality!
Contributor
Posts: 77
Registered: ‎06-08-2010
0

Re: Home Construction Delayed- Locked in Rate & Signed Commitment

Thank You...I will :smileyhappy:

Starting Score: TU 654 EQ 599
Current Score: TU 682 EQ 661 EX 688
Goal Score: 750


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