Hi, everyone! Anxiously waiting on a closing date. My husband and I are puchasing a home. At first, I was going to take out the mortgage on my own as my score is higher than his, but my DTI increased way too much when the lender calculated it based on FHA guidelines. Since we had to add my husband and his score is much lower than mine, my broker submitted the new joint application with a new lender (Plaza). This whole DTI thing happened after we obtained a conditional approval, so someone dropped the ball. Anyway, my broker told me he only needed 7-10 days to close with the new lender. Today is day 5 and I don't even have a conditional approval. We are supposed to close next week, so I am a bit concerned. I reached out to him a few times yesterday based on my attorney's urging and no word back yet. Here are my questions:
1. ANyone have any recent experience with this lender and their typical response time?
2. Should I be concerned at this stage?
3. Do you have any advice that will calm me down? I will take anything! ugh...
Thanks for listening.
Thank you. I guess I’m concerned because is never thought it would ever be possible to close that quickly after submitting an application.