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02-10-2013 10:49 AM
1/04 Applied for mortgage loan. Sent in W2s, paystubs, bank statements and LOEs. File was sent for full underwriting approval, so there would be no issue once we picked out a house.
1/17 Told that we were approved but that all dispute comments needed to be removed from credit report.
1/24 Signed contract on home.
1/25 Signed electronic documents, received GFE
1/29 Credit reports repulled, dispute comments removed. Signed more electronic documents, received new GFE
1/30 Home inspection done, no major repairs needed.
2/01 Was told to pick a closing attorney so they could start the title work.
2/04 Appraisal done
2/06 Appraisal report sent to lender, house appraised at 10,000 more then we are paying for it.
2/08 Sent in updated bank account statements and most recent paystubs.
Am I right in thinking that we are getting close to the end of this process? Our expected closing date in our contract is 3/22/13 but I was told by my realtor that if things continued to move along this smoothly, we could close as soon as the end of this month.
02-10-2013 11:14 AM
If everything is in order you can get a Clear to Close at any time now. Once you get the Clear to Close you just set a date for closing. Can be as fast as the next day (depending on Title Company), or whenever you want after that.
From my experience, you will hear something back this week, and possibly close.
02-10-2013 11:19 AM
02-10-2013 12:07 PM
Wow, that would be so exciting if we got the clear to close sometime this week! This has been the most nerve racking experience of my life and I am so ready for it to just be over with! I will keep everyone posted on the situation.
02-16-2013 08:03 PM
Well we didn't get a clear to close this week, instead I got an email wendesday with a list of a few more conditions. These were pretty easy and I sent them all in the following day.
Friday, I received another email asking for updated bank statements to show we have the funds and reserves needed to close, Last four paystubs, and to get our home owners quote switched to an actual policy with the starting date of 2/28.... Was told that they are waiting on title search and hud 1 to come in.
I wonder if this means that they will try to have us close on this loan on the 28th? This has been one emotional ride and I am so ready for it to be over!
02-16-2013 08:13 PM
02-16-2013 08:27 PM
This makes the 3rd round of conditions for me as well. I really don't know what more they could ask for... A blood sample maybe lol. I'm just glad that they at least gave me a date to have our insurance start on.. Kind of makes it feel like we may be nearing the end of this process, but then again who knows.
02-16-2013 09:36 PM