Question on generating cashier's check/money order for closing....

[dreamingofanewhome]

Hi all!  I have been too scared to jinx anything and post, but all signs are pointing to closing on Thursday or Friday of this week!!  The file is back in the underwriter's hands for the final condition clearing.  I am trying to figure out how to generate the cashier's check for closing costs...the bank where the funds are currently is at USAA which has no local branch I can visit to request the check.  I have a local bank that I have a small spending account at.  I sent the statement showing the funds in my USAA account for proof of funds, am I free to do what I want with the money now?  What I mean is, can I wire it to my spending account so I can walk into that branch and generate the cashier's check, or will I have to provide documentation of that transfer first?  Do they care at closing where the cashier's check came from at the point as long as it has been proven that I have the money in my posession???  I'm just terrified of anything going wrong or delaying this process....Thanks in advance for your help!!!!

[Catacam]

You should receive instructions for closing, but I think everything is primarily wire transfer now. At least it is for us!

[dreamingofanewhome]

Thanks for responding!  I've followed your story, and congrats on hearing those magic words.  I havent heard "clear to close" yet, so the nail-biting continues for me.  Supposed to close Thursday though...yesterday the processor said we might need to get an extension and i called the loan officer and begged them to give me one more day for proof of funds, and he said he would.  Everything is in final underwriting, so hopefully Thursday or Friday at the latest, I couldn't make it through the holiday weekend, that's for sure!  Congrats again, I know the road hasn't been easy for you!!

[Catacam]

Thank you so much! Yes, it has been a long and stressful process. We are still waiting on docs, but we figure if we can get into escrow today, we will be in by the weekend!!! Good luck to you!!!

[Walt_K]

Perhaps it varies by lender, but we didn't have to use wires.  We were supposed to have funds wired or use certified check.  I used a check because my bank charges for outgoing wires. 

I had a similar situation.  Money was in an Amex savings account.  My loan officer told me it didn't matter if I transferred it to my BofA account so I could request the certified check. 

[indecison]

I bank with USAA as well and they have fed exed me cashier checks over night before. The Fedex fee was not huge either.  Just another option.

[Booner72]

We had to use a sister credit union as our credit union is 3 hours away. The took the check no problem as it listed our account # to our checking account that they had all the access to during underwriting. Dont sweat it, and hopefuly this is a non-issue and you are closed!