Mortgage Loans

[jennaxx]

We are in underwriting and got a conditional approval. We have sent everything they needed and are expecting an answer any day now. (I hope because I am climbing the walls here !) If thye tell us we are "clear to close" how long does it usuallu take to have the actual closing ?

[Barris]

Closing would take about a minimum of 3-5 days on up side and 2 weeks on the down.

[tooleman694]

I think you can close the same or next day after clear to close. It is as fast as getting the paperwork together at the title company.

[cclee]

We had clear to close on Thursday, had docs ready to sign on Friday but we were not available that day, so closed today.

[jennaxx]

Thanks everyone for your answers. And to cclee- CONGRATULATIONS !!!

[jkwheaton78]

Is there a time limit on how long you have to close.  If you get clear to close today do you have a certain number of days you have to close by before that expires?  

[jennaxx]

the financing contingency (21 days) ends tomorrow. Well, it was 21 days from 02/25 but we did not get the signed contract back until the 26th. So I am assuming the 21 days ends tomorrow not today. Our contract says we should close no later then 04/13. They are in a hurry (sllers) and so are we so if we can get a clear to close I think it would be before 04/13.

[MovingForward_2012]

I got clear to close and closed on the same day.

[jennaxx]

It looks like we are going to clos eon Tuesday the 26th.

[MovingForward_2012]

That's wonderful! Congrats!!!