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Just registered so that I could contribute to this thread. I am so glad I found it and it's nice to know my husband and I are not alone!! We close in exactly one week from today and yesterday it almost all fell apart. I won't get into details, but suffice to say that we are a go, but I have a checklist of five more items (that I swear I have already sent) to send in that I'll be working on tonight and then we should be good to go. Fingers crossed!
This is my second home purchase (my current house is on the market). It's my husband's first. Needless to say, I've told my realtor that I'm never buying another house. Ever. Again.
Deep breath - you most likely went through a pre- closing audit to make sure the loan can be sold on the secondary market (where loans are sold). Better than three months after closing (see thread https://www.city-data.com/forum/mortg...mployment.html )
I'm having the same frustrations as most here. Was supposed to close on March 12, but still haven't closed. I got my commitment to fund letter and was hoping to close last week but no such luck. I have a truck that will be paid off next month they had to verify balance and that there were no 30 day late payments (there weren't all my payments have been on time) and then they asked again for my bank statement showing that I have the closing funds. I have provided this twice already. They also asked again for the signature of received appraisal. It's just so frustrating to be asked for the same thing repeatedly. I fax to their fax which according to them everyone can access. I always do a cover page with whats included. I'm not sure what else to do at this point except wait. I believe we only extended until 3/26, so I'm hoping re-sending these last few things (exact copies) will be sufficient and we can still close. I'm not sure how fast the documents can get to UW and UW can issue a clear to close. Is it still possible that it can happen this week or am I looking at next week? I figure if its next week I might as well wait until April to close so I can have the extra month without a mortgage payment and a little extra cash for furniture etc. Any thoughts opinions ideas?
Chicago area and first time home buyer here, went FHA with down payment assistance program through Illinois our contract and offer was accepted on 2/25/15
Our clear to close date is tomorrow and we are going to need an extension. The mortgage company just received copies of our VOE from both our jobs yesterday, Mortgage company received the termite inspection today and as of 3/19/2015 our attorney was still waiting on the title from the seller's attorney. I have been up my mortgage company's butt every single day for some sort of update. We are not going to close on the 30th as we hoped. I extremely stressed out and do not understand what the hold up is, we have faxed EVERYTHING the loan processor had requested. We gave our landlord notice on on March 7th, so if our loan gets denied, we're basically screwed..
Our credit score for both of my wife and I are in the 790's and 800's our income to debt ratio is 18% and our front end income to debt ratio is below 29% for FHA guidelines. The appraisal went through fine and home appraised for 144k with no contingencies in place. Underwriting had our income figured less but was amended after they received our VOE.
I don't even think I'm trying to ask any questions, just more or less voicing frustration at the long drawn out process.
I'm supposed to close Tuesday, but don't think that will happen, as I still don't have a commitment letter from my lender - My mortgage is currently in human underwriting, which got delayed several days as the PMI company my lender is using had a few questions about the HOA.
I'm hoping I get the commitment letter, but an feeling a little nervous about it (first time home buyer).
The process has been horrible though, and feels like it's taking forever.
The day before closing I got an email from the lender with some ridiculous question about my paystub which made no sense. I looked over my docs and then emailed my broker and said I had no clue what they were talking about, have them send me what they're looking at. Later that day I get an email that it was a false alarm, they mixed up someone else's file with mine. This was the day before closing mind you, when I was already cleared to close. There were numerous other issues during the process that made me think they employed apes instead of actual humans. We ended up closing(late) but my answer to the thread question would be a resounding yes.
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