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New Contributor
Posts: 97
Registered: ‎10-28-2012
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Re: What are you waiting for today ????

Im in exact same spot, scheduled close 29th, round of conditions went in Monday. Should get a clear to close any time now. Its just busiest time of the year in Real Estate i think with taxes and new FHA rules coming. Many people like me needed to wait till January to get a 2nd tax return just to apply. Self employed.

 


Starting Score: 701
Current Score: EX-FICO701 EQ-FICO644 TU-FICO724 all lender pulls April 2nd 2013
Goal Score: 800


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Valued Member
Posts: 130
Registered: ‎02-15-2012
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Re: What are you waiting for today ????

[ Edited ]

I need to stop coming to this forum. The more I read the more paranoid I become. I didn't know that there are rounds of conditions. I thought that there will only be just 1 round. I turned in all the required docs for my (1st round) conditions and the home appraisal came back all good yesterday and my broker said that now we just have to wait for the bank to give us the "clear to close". But now that I'm reading that a lot of you guys are expericing wave after wave of conditions, I'm freaking out. I'm scheduled to close May 10 but I really hope that the UW doesn't find more conditions.

New Contributor
Posts: 96
Registered: ‎04-12-2012
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Re: What are you waiting for today ????


In-A-Limbo wrote:

I need to stop coming to this forum. The more I read the more paranoid I become. I didn't know that there are rounds of conditions. I thought that there will only be just 1 round. I turned in all the required docs for my (1st round) conditions and the home appraisal came back all good yesterday and my broker said that now we just have to wait for the bank to give us the "clear to close". But now that I'm reading that a lot of you guys are expericing wave after wave of conditions, I'm freaking out. I'm scheduled to close May 10 but I really hope that the UW doesn't find more conditions.


Sorry, I really am. It does stink that you think one thing and then BAM!!!!!! You get more conditions. But hey an approved with conditions is being than being denied, right?

 

Right?

Lender Pulled Credit Rating as of 4.10.2013. (Fico Experian: 660) (Fico TU: 685) (Fico Equifax: 659)
New Contributor
Posts: 97
Registered: ‎10-28-2012
0

Re: What are you waiting for today ????

im self employed, im being asked for a letter from my CPA stating he did my taxes and mvoing from Oregon to Fl will not hurt my income as an online business.

Ah, wasnt the tax returns enough?

We should require Banks send us certified letters stating if we give them any money to hold or invest that they wont lose it again then take our money to get back on top.

 


Starting Score: 701
Current Score: EX-FICO701 EQ-FICO644 TU-FICO724 all lender pulls April 2nd 2013
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New Contributor
Posts: 97
Registered: ‎10-28-2012
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Re: What are you waiting for today ????

The worst of this request is it is his busiest week of the year, now he has to write this stupid guess into my future letter.

I doubt ill get a call back from him on this.

Its my last condition for approval.


Starting Score: 701
Current Score: EX-FICO701 EQ-FICO644 TU-FICO724 all lender pulls April 2nd 2013
Goal Score: 800


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Contributor
Posts: 97
Registered: ‎06-28-2008
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Re: What are you waiting for today ????

raisinitup, you are so right about educating yourself.  These forums were heaven sent.  From building my credit to now getting a mortgage, I have learned so much.  It really does help you to know what to expect.  Right now I am just waiting on the appraisal...and waiting...and waiting. I'm scheduled to close May 15th but I really hope it can be a week earlier if nothing pops up.



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Member
Posts: 14
Registered: ‎08-20-2009
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Re: What are you waiting for today ????

We are still waiting for our appraisal to be ordered. We were charged for it 8 days ago, they put a rush on it 2 days ago and our online file is still showing that it hasn't been ordered.

 

We are also waiting for the insurance policies. Coastal TX has the pleasure of dealing with home, wind and flood policies. The home policy was escrowed into our loan, the LO didn't know about the other 2 so we're waiting for an answer on that. We're not sure if escrowing the other two will change our loan details or not.

Established Contributor
Posts: 828
Registered: ‎12-09-2012
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Re: What are you waiting for today ????

[ Edited ]

In-A-Limbo wrote:

 I didn't know that there are rounds of conditions.


Not everyone has them.  It's not something to really stress about.  Most of the time, you're going to get asked for updated bank statements, pay stubs...things that are easy to get and submit. Several rounds of conditions are not the norm. 

Regular Contributor
Posts: 226
Registered: ‎12-11-2012
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Re: What are you waiting for today ????

I need to get some quotes for Homeowner's Insurance but I'm not sure where to start. I guess I'll try to get with a local agent by tomorrow and start seeing whats out there. Haven't heard from the LO yet, I think she submitted our file to UW but I'm not certain. My HR dept at work did get an emp verification request yesterday and they sent it back already. Does that mean we're in UW ?

12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
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Established Contributor
Posts: 828
Registered: ‎12-09-2012
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Re: What are you waiting for today ????

Not always. The loan processor can send all those things out so that they're in the file before it goes to the UW. 

 

As for homeowners insurance...the best place to start is with the company you have your car insurance through.  Most offer discounts by bundling everything together. 

 

Don't go through a discount insurance company...it's not worth it.

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