Loan in Underwriting--questions?

[creditgirl]

Our loan is in underwriting, scheduled to close before July 25th. It has only been with the underwriter for a week now. Can we really expect to close so soon?

[BrianB_The_Loan_Professor]

If things go smooth and there arent any big bumps it is possible

do you have any idea how much longer before the UW gets to your file

[Anonymous]

For most institutions this isn't uncommon, as long as you have all your docs in a row and have everything at hand if they need anything to be faxed / emailed right off then there's nothing to concern yourself with.

Just remember, where you may buy a house only once every 3 - 10 years, UW's and LO's do these on a daily basis, if they've scheduled a close that soon then there's a good reasoning for them to think it's "that good" to get it done that fast.

[creditgirl]

No, all I am hearing from my loan officer is that they are "pushing" to get it done. She did inform my realtors yesterday that she is planning to have it closed by the end of next week so they have scheduled the final walk through. Hopefully things will go well. We have given her everything she has asked for and have signed all the paperwork. The appraiser was assigned last week, so hopefully he will get that done and over with. 

Thanks for the info!

[creditgirl]

Well, the LO says she doesn't forsee any problems with the file. We are going VA, no baddies in forever. The only one left on the report is for $200 and it's like 5 years old. We are ready to pay it immediately but we wanted to wait until we are told to do it. The LO says it's not significant. We will just wait and see. The LO told my husband to take vacation and drive down from Louisiana next week, so I hope she is at least feeling like it's going to happen.

We will see!! Thanks!

[creditgirl]

Just talked to the LO and it seems we will not close until the 30th (which was the original date she gave us). It's not a problem, she says, it's just that the VA underwriter is taking longer to get through all of his files. I am now nervous but will keep the faith that all things are going to work out on the 30th.