Saturday, October 20, 2012

Loan Approved!!!!!

Yay! We just got word from our LO that our loan has been approved....of course this is contingent on still being able to provide documentation on A,B,C through X,Y,Z. But still a major step in the process!

Did anyone have issues with the closing date being different than what was discussed?

8 comments:

  1. Congrats on your approval, all approvals come with that list....I just sold my home and the buyer had that same list that was also provided to me that he had to get........so its NOT an NVR thing!!

    My thoughts are no one closes on their DATE....but im kinda pessamistic in that area, hope someone can chime in differently...

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  2. Congrats on your approval!! We were told we'd need to supply updated bank statements and W2s as we get closer to closing. They might have to settle for the last pay stub of the year in place of the W2s though if we close in January.

    No one has really given us a closing date yet... I'm hoping the PM will do that on Tuesday at our pre-construction meeting.

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  3. Congratulations on getting your approval! I am finding that most contracts are contingent until the final approval. Our date changed several times throughout this entire process. We are set for January 15 and I am praying that is the case so it's important to make sure NVR has everything they need way before that date.

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    1. We're thinking that the LO got the months mixed up because she has our closing as Jan 10! Ad we are obviously not as far along as you guys.

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  4. Nobody will give me a date, not even a target or guess, they say we will get that about 30 days before closing when the official scheduling letter goes out.
    Julie from dreamrome.blogspot.com

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  5. Depends on what date...the closing date on the approval letter is just for when that approval expires. We don't have a house closing date yet, but our letter said December 16. Which might actually turn out to be our real closing date, who knows?

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    1. I talked to my SR and he said that the closing date for the loan reflects 90 days from the approval. Not really sure if this is right since I've seen others approved around the same time and they have different dates. He also said that the date would change once you go through the final approval as it gets closer to the actual settlement date (i.e. the house is finished). Oh well- just another sometimes confusing aspect of TW process I guess.

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    2. Not sure what he meant about it changing when you get closer...but the 90 days from approval is them covering their butts. A lot could change in 3 months! I just wish they'd use a different term, it would avoid a lot of confusion.

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