cancel
Showing results for 
Search instead for 
Did you mean: 

CLOSED!!! -Final underwriting/approval

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Frequent Contributor

CLOSED!!! -Final underwriting/approval

We are closing in 5 days.  My file was sent to final underwriting for approval.  I'm so proud of myself, I went the entire day without emailing/calling my loan officer.  Does closing take very long? What can I expect in the next few days? Thanks!

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 1 of 28
27 REPLIES 27
Frequent Contributor

Re: Final underwriting/approval

I think this means your file is been fully approved but they are just getting all the official documents looked over again so they are ready to sign. Depending on where you live, you'll sign, then the loan will fund, then you will record and get your keys. You may sign in 5 days, but your true closing date may be after that by a day or two possibly.

Starting: EQ: 490 TU: ??? EX: ???
Current: EQ: 717 TU: 757 EX: 736 (lender)
Goal: 800+
=============
Amex: Zync, Gold Delta
Discover More
Chase Slate
Discover More
Message 2 of 28
Contributor

Re: Final underwriting/approval

Congrats to you.  I chuckled a bit when you said you went the entire day without calling.  I am 7 days out from closing and I told myself today that I would not drive past my new house until at least Friday.  The process that the other poster wrote seems to be correct but it's not happening that way in my case.  I believe we will do all of the paperwork on one day which may or may not be a good deal.  I emailed my lo two days ago and she said she was sending my paperwork to closing either today or tomorrow and I won't get a HUD 1 until Friday and our closing is on Tuesday so I am not sure if we'll be getting any papers before Tuesday.

Message 3 of 28
Frequent Contributor

Re: Final underwriting/approval


@doublespaces wrote:

I think this means your file is been fully approved but they are just getting all the official documents looked over again so they are ready to sign. Depending on where you live, you'll sign, then the loan will fund, then you will record and get your keys. You may sign in 5 days, but your true closing date may be after that by a day or two possibly.


Oh I see, well according to my loan officer, she will tell me tomorrow the amount we need to bring to closing on Monday so I can get our cashier's check tomorrow. Our final walk through is on Sunday.  My realtor said that when we go to the title company on Monday and do our paperwork they'll give us the keys.  So just wondering if there's anything else that I should expect to do.   I think Monday is our true closing date, although I heard from other board members that the loan may not fund that day but rather a day or two later.  Is that what you meant by the last line? Sorry I can't think straight anymore! Smiley Happy  Just talked to the gas company to switch service over to my name at the house and they were talking about billing options and I was lost.  I think my brain is just fried at this point. 

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 4 of 28
Senior Contributor

Re: Final underwriting/approval

Now you just need to scope out the best eateries around the  new house.   Do you want delivery?   Take out?   Ya gotta plan that first "oh my gosh, I did it!  I'm in MY house" night!  Smiley Happy

Message 5 of 28
Highlighted
Frequent Contributor

Re: Final underwriting/approval


@creditisbetter2 wrote:

Congrats to you.  I chuckled a bit when you said you went the entire day without calling.  I am 7 days out from closing and I told myself today that I would not drive past my new house until at least Friday.  The process that the other poster wrote seems to be correct but it's not happening that way in my case.  I believe we will do all of the paperwork on one day which may or may not be a good deal.  I emailed my lo two days ago and she said she was sending my paperwork to closing either today or tomorrow and I won't get a HUD 1 until Friday and our closing is on Tuesday so I am not sure if we'll be getting any papers before Tuesday.


Thanks so much!  We drive past it everyday like stalkers!  I'm surprised cops haven't been staking us out yet! Smiley Happy  The Sale Pending sign was pretty cool but I can't wait til it says SOLD!!!

 

Oh and IOBA there's a restaurant down the street that I've always wanted to try out! Smiley Happy   I'm so excited guys! I feel like I'm going to cry.  This has been 12 years in the making.   My baby girl is thrilled about her bedroom and having a yard to play in.  It's her birthday on Sunday and it's like she's getting a house for her birthday.  I can't even begin to describe how thankful I am.  All the advice I've gotten here is really truly appreciated!  Thanks!

myFICO starting TU 683 8/26/11
myFICO starting EQ 645 8/26/11
myFICO EQ 652 9/26
Message 6 of 28
Contributor

Re: Final underwriting/approval

Just talked to the gas company to switch service over to my name at the house and they were talking about billing options and I was lost.  I think my brain is just fried at this point.

 

Ha!  I was talking to my realtor the other day and I couldnt remember my LO's name.   I know my brain is fried!

 

Very cool, I hope you'll be in your new house in the next week.  Are you all packed?  Update us on how your closing goes.  Im curious as well.  You've got to be so excited! 

Message 7 of 28
Regular Contributor

Re: Final underwriting/approval

When you loan comes out of underwriting it may come back as conditional. Do not get upset. This is normal. The conditions can be anything the underwriter feels like asking for that day. Usually it is some sort of documentation. Once the conditions are met your loan should be fully approved and your lender will prepare everything to go to the title company. Once the title company gets it they review the package and prepare your HUD 1 form. This form is what tells you what you and the seller will be paying at closing. The HUD 1 form is sent toyour lender for approval and sent back to title company. Once that happens you are cleared to close.

 

The above is more or less wat I just went through the last wek and a half. I close tomorrow morning at 10a.m. Hopefully I will sleep tonight.

 

 

Good Luck!!!


Starting Score: 582
Current Score:
Equifax 684 MyFico 10/10/11
Transunion 659 lender pull 7/6/11
Experian 690 lender pull 7/6/11

Goal Score: 700


Take the FICO Fitness Challenge
Message 8 of 28
Contributor

Re: Final underwriting/approval

Gagum- Congrats to you too!  I hope to be in your guys' shoes soon.

Message 9 of 28
Contributor

Re: Final underwriting/approval

I am excited but still a bit scared.  I am in a similar boat.  My mortgage cleared underwritting yesterday, and I am now set to close in five days.  Since I am doing a 203k the paperwork took a bit more time and so we needed to shift the date 2 days, but we should be all good.

 

Though stressful and annoying it has been well worth it.  I gave in my short sale offer just 70 days ago to the bank and to be closing this soon is such a blessing.  I wis everyone good luck!

2009 Credit Portfolio: First Premier 450, Orchard Bank 400

2012 Credit Portfolio: AMEX; Gold, Zync, & Clear 5k
Citi Platinum Select 2k, Home Depot Store (Citi) 4k, Discover More 10k, Barclays Apple 2k, Cap 1 (secured) 2.5k
Message 10 of 28
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.