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
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.