Our LO sent over our commitment letter today and all he said was that he needed a few more documents: a recent pay stuck, recent bank statement and documents for the gift money that my in-laws gave us for the down payment (we submitted the gift letter already, but I think they want a copy of the check). Is that all that they usually ask for? He didn't mention anything else. The appraisal was already done and satisfactory.
How long after we submit the documents can we expect final approval? We are due to close in early january and with all the holidays, the timing is making me nervous.
Those are normal things to submit. Once your LO has that information then your file is put together and worked on.
They verify all information statements, employment, etc etc. once verified your loan is submitted to UW.
UW then goes over your loan and makes a decision, most of the time the UW has conditions for approval. Once you satisfy all conditions and submit to UW they go over your loan again and usually give you a clear to close with-in a few days.
Good Luck May all your dreams and wishes become a reality!