Please help me understand...

[Anonymous]

My LO originally told us we did not have to sell our current home to purchase the new home we are buying.  Now that I am under contract to sell, she is saying that she wants me to move the close date up for the sell by one month even though this falls after our close to purchase.  Why?  Is that something that would matter in UW?

[ShanetheMortgageMan]

It's always best to ask your loan officer these questions first, since none of us know the full details of your file/situation.  However, if you feel your debt to income ratio wouldn't qualify if your current mortgage payment was included, then your loan officer may be trying to get it excluded by way of a little known guideline that just requires a copy of the executed contract to sell your home + confirmation that any financing contingencies have been cleared.  The underwriter may also want confirmation that your home is selling sooner than it is currently expected to (although that is not a requirement in this situation, the lender may add their own overlay guideline).

[homeloanexpert]

I concur, I would ask your LO why the change in strategy. It could be a simple as your LO can't add and she or her Processor discovered her mistake. Best you call as you may have an issue with moving the closing date.