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Conditional approval issued

aesl1982
Regular Contributor

Conditional approval issued

It’s been a stressful rebuilding and application process. Back in August we started the pre approval process. Told us to pay down all cards to $10. I did that and then bam preapproval issued october 1st. Decided to buy a new home that was just finished building signed contract on October 12th. Builder said if I can close by the 31st they would give upgrades for free and contribute $15k towards closing costs. My lender said challenge accepted lol. Well yesterday builder called and said move it to November 1st. No big deal to me just means payment not due till Jan 1st now. So winner. Tonight I got the conditional approval and asked for utility bill and bank statement that cut today, along with paper trail for earnest money and LOE for a derogatory and addresses. Builder called and scheduled closing for 11/1. Here’s to Hoping to get the clear to close in next couple days. Since I’m only 10 days from closing now will they do another soft pull after CTC issued, or when I get the CTC is that it?
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kc0039
Established Contributor

Re: Conditional approval issued

When you get ctc, that's it. Don't buy anything until after closing though

Licensed in IL
Message 2 of 4
aesl1982
Regular Contributor

Re: Conditional approval issued

Now I’m getting nervous, I signed the final closing documents yesterday. Closing scheduled for Friday the 1st. Wired money this morning, but still don’t have my CTC. On pins and needles this is giving me heartburn waiting on this CTC so close to closing still. Final walkthrough is Tomorrow with builder
Discover it miles 9/19 Sl 5000 | Care Credit 9/19 SL 3500 | Cap 1 QS 4/14 AU 500 | Cap 1 QS1 4/14 AU 600 | NFCU Secured 8/19 200 | NFCU CLOC 9/19 500 | NFCU auto 10/19 6.29 66k | NFCU Auto 4.9% 37k
Experian- 702
Equifax- 676
Transunion- 611
Util- 9%
Message 3 of 4
JGGM
Frequent Contributor

Re: Conditional approval issued

At least you got the closing disclosure in time to close Friday. You may very well not get the clear to close until Thursday.....but as long as the underwriter approves it for closing, you should be good on your timeline. I'm told it used to be very common practice to not have a HUD-1 (old closing form) till right before closing.

 

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