So my mortgage broker just called me and said we can look at mortgage rates and lock one up now. So after doing countless conditions and what not, does this mean I am almost done now and can close soon?
When your LO calls you and tells you that you are Clear to Close then you are done and can get ready to sign your life away. The rate lock has nothing to do with the final approval. Good Luck!
Your not done yet. I locked on mine well before getting the clear to close, it was well before even going to UW. Rate lock has nothing to do wit approval.
I am thinking the rate lock just means that you have met their qualifications during automated underwriting. As long as you have been upfront and honest with your LO, and nothing new pops up, you should move through manual underwriting just fine. Once manual underwriting is complete, you will receive your clear to close and set a closing date. Best of luck!