topic Re: CTC... Whats the normal wait time??? in Mortgage Loans

CTC... Whats the normal wait time???

reesepooh00 — Mon, 13 Mar 2023 15:54:10 GMT

Hi All,

I received a conditional approval on 2/22. I havent heard from my LO , though I email her just about every week. The last response was she would work on my file and let me know if anything was needed. That was two weeks ago. I emailed her again today and still no response. Wondering how long should i wait before pressing the gas??? Im scheduled to close on 3/31 but want to make sure there are no issues .

Thanks

Re: CTC... Whats the normal wait time???

Mortgage-Specialist — Mon, 13 Mar 2023 16:06:10 GMT

Perhaps you should call instead of email. That a lot of time to go by without any communication. If no response today you should call in for a manager. There's no timeline on CTC - it could be day or weeks. It depends on how efficient the LO is and their processing dept

Re: CTC... Whats the normal wait time???

VAMortgageGuy — Wed, 15 Mar 2023 19:12:03 GMT

@reesepooh00 wrote:
Hi All,

I received a conditional approval on 2/22. I havent heard from my LO , though I email her just about every week. The last response was she would work on my file and let me know if anything was needed. That was two weeks ago. I emailed her again today and still no response. Wondering how long should i wait before pressing the gas??? Im scheduled to close on 3/31 but want to make sure there are no issues .

Thanks

Typically you'll get the CTC 3-10 days before your close date. The main reason is the lender has to do their final verification of employment right before closing and they need to do the final soft credit pull within a certain number of days prior to closing. They can't issue a CTC until they complete those things.

Re: CTC... Whats the normal wait time???

homeloanexpert — Thu, 16 Mar 2023 17:07:26 GMT

@reesepooh00

Congratulations on your loan approval. Having said that, I must say, 2 week is a long time not hear from your LO. The Processor, if no one else, should be reaching out to you. Hopefully by now somebody has got a hold of you. If not I’d reach out to the Processor asap.

Best of luck to you!