Delay in lending, likelihood I get the mortgage and my condo?? (loan, approved)
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I have a situation that maybe those who have some expertise could shed insight on. Mainly curious to see how good I am at the moment.
I'm in the process of getting a condo, got pre approved for a good program through one bank, I've done the inspection, also the earnest money as well with a 60 day closing. Once we made the offer and went into contract the bank needed the required documents and assumed I would be all set right now until they gave me an update today.
They mentioned now needing 60 days of verified employment with my new pay raise instead of the previous 30 days. I've held dif jobs the last 2 years but have always been in the same field of work and never unemployed. In addition they stated to re apply for the loan in another 3 weeks and to also show updated documents of my bank statements.
Question is, do you guys think I'm still on schedule or in process to get this taken care of? This delay worries me and was hoping my current documents would suffice. I'm sure the bank could have just declined me but when I re apply, the closing date on the property will only be about 1-2 weeks away.
Yeah I agree that something seems odd. I've held maybe 4 different jobs in the past 2 years? Right now I'm basically salaried with a same rate each weekly pay period.
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