I have heard the same. Supposedly there will be another grant in the works for 2020 but who knows if it will be better terms. This one started as a 1% deduction and within a few months bought down to half a point.
@tricey718 that leaves you a good bit of time to close before the end of the year. I wouldn’t worry about that at all just yet.
Pre-Decision means that yes, they are looking at your file, pulling your credit and pouring over all of your information. In the next few days, expect some lender conditions in your web file. Try to address those immediately. Once you do get some conditions, I suggest calling the mortgage processing department, 714-822-6222. They can really help you get through the closing process. If you don’t get any lender conditions by Monday or so, I would call them up and just ask them the status of your file. They can ask the bank for updates and were essential for me to keep my file moving along the way it should.
For what it is worth, I posted my timeline here if you want to see how long everything took, and other members have done the same. I signed bank app 10/21, received first conditions 10/28 (had to call mortgage department as I couldn’t see the conditions in my web file, just knew that my status said there were conditions), got the CTC final on 11/07 and closed on 11/15.