I am almost there! Started with NACA Feb 2012 – Naca Qualified March 2013 – Signed contract on a house April 2013. My closing date was May 21 then was revised to May 31. Still haven’t closed. House needed MINOR repairs that the seller made and paid for. Appraiser went back out Wed June 5 and uploaded the final inspection to Naca/BOA. My counselor assures me we will have the CLEAR TO CLOSE from the bank this Monday. I gave my 30 day notice at my apartment at the time of bank app. This means I have to be out by Monday June 17. I have 9 days left. If it reasonable that I can actually close this week assuming I have the clear to close on Monday? How long did it take others to actually close after having that clear to close? Any advice would be greatly appreciated!!
Assuming that you will have CTC on Monday, it is very likely that you’ll close by the end of the week. In order for you to be scheduled for closing, HUD1 needs to be approved by NACA and bank (typically 72 hours after CTC). However, after signing the documents there might be an additional 1 or 2 business days required for deed recording, before you can actually get the keys. In any case the most uncertain part of the process is getting CTC, which is entirely outside of your or NACA’s control (so your MC cannot speed up the process should the bank decide it needs more time).
Here is the timeline in my case (So. Cal., Lender – Citi):
Apr 11 – CTC (NACA notified the escrow that file is ready to be closed; I never saw CTC in my web-file)
Apr 16 – Closing
Apr 18 – Deed was recorded by title company