Underwriting

[Anonymous]

Okay so I was sent to underwriting on 7/18. On 07/21 I got a letter saying my loan application was incomplete, stating it was missing 3 items (2 of which were sent with my original application. I was missing a copy of my license and social security card, the signed purchase contract, and home insurance declaration page. I sent the first two items in right away. I was told by my LO that I would need to worry about the home owners insurance until right before closing. 

Closing is scheduled for 08/12. My first question is, is it a good sign they are looking for Home Owner's insurance proof? Also, I haven't heard anything further from my LO about status of underwriting. Also waiting for the appraisal to come back, should be tomorrow. So can I breathe a bit of a sigh of relief since the underwriter is looking for insurance declaration??

Please any info would be great.

[Laura1369]

Varies by lender. Mine wanted it before they Even sent it to initial underwriting. My appraisal should be back tomorrow also and then back to hopefully final underwriting...,, 

[ShanetheMortgageMan]

Usually you get a homeowners insurance quote soon after your offer is accepted, that way everyone will know about how much the premium will end up being so they can calculate your monthly payment & debt to income ratio appropriately.  It's not required to be in the file at submission, but it helps greatly and will potentially avoid an issue later.

[tbroug01]

Did you get the house?