cancel
Showing results for 
Search instead for 
Did you mean: 

Is this a good sign? (Loan in underwriting)

tag

Is this a good sign? (Loan in underwriting)

We signed the sales contract Dec. 17th and given a projected closing date of Jan. 31st.  Wednesday evening I received an email from the loan processor that said the underwriter has reviewed my file and asked for several more documents and LOE's.  I turned all of them in Thursday morning.

 

My loan officer called me Thursday afternoon and had me pay for the appraisal.  He then ordered the appraisal that afternoon.  He also mentioned that the documents that were requested were "final conditions".

 

I am almost in the clear here?  If I've satisfied the final conditions and the appraisal is ordered, and assuming the appraisal comes back OK, can I assume everything will be good to close?

 

My wife is ready to pick out colors, etc. for the new house and I try to caution her.  But I would like to ease her mind and let her look with peace of mind.

 

Thanks!

Message 1 of 4
3 REPLIES 3
JM-AM
Valued Contributor

Re: Is this a good sign? (Loan in underwriting)

Appraisals are actually part of the conditions.

 

As long as all conditions are satisfied and accepted, appraisal comes back okay as you mentioned you should be cleared to close.

 

Just a short remimder that UW may come up with additional conditions, just satisfy them as you have been doing.

 

Sounds to me you are on target for closing sooner then January 31st, unless you prefer to wait until then.

 

Congrats and good luck

Good Luck
May all your dreams and wishes become a reality!
Message 2 of 4

Re: Is this a good sign? (Loan in underwriting)

Thanks!  I think we are on track to close early, too. 

Message 3 of 4
Anonymous
Not applicable

Re: Is this a good sign? (Loan in underwriting)

kentucky_golfer, we seem to have identical situations. I also signed my contract on 12/17 and am now awaiting the appraisal results (appraisal was done Friday). I am beyond obsessed with it at this point, lol. Our target close date from our contract is 1/20 (which is a Sunday, so will need to be a few days early or later).

Like you I am hoping that the fact that they did the appraisal means they have pretty much all they need once that comes back. They already requested a couple of explanation letters which I promptly sent, so hopefully they are just waiting on the appraisal.

Good Luck to you, keep us posted!

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.