Any Updates this morning?

Home Forums Purchase Program Any Updates this morning?

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  • #64246
    2020mclt
    Participant

    @nelsont it’s a new construction and it was set up to be ready on that date, my realtor said we should of been good with dates. I just spoke to my realtor and he said that he already received CTC for other members that submitted their applications 2 weeks after me, that’s what i’m so confused about.

    #64247
    Nelsont
    Member

    OK so new construction provides a couple extra wrinkles. The appraisal is done at a later point and is often a hold up. Then there’s the completion factor. Has the house been completed and is in move-in condition? That could be another hold up.

    #64248
    2020mclt
    Participant

    @nelsont yes, house was completed since the beginning of December, appraisal and everything else needed has been completed. VVOE Was completed on 12/30 and initial closing disclosure had a date of 1/3, mortgage department stated that their is no conditions pending and everything else is completed, is just the lender not giving the CTC.

    #64249
    Nelsont
    Member

    I understand your frustration. You are sooooo close. It will happen.

    #64250
    2020mclt
    Participant

    @nelsont thanks for trying to help, I hope it does.

    #64251
    AmIClose
    Participant

    @peapod0609, @our1sthome, @nelsont, @ttrumble. Called Mortgage Department and got through….Talked to Gary, most helpful person there is there. Couldn’t tell me much, but was able to tell me that it looks like I’m in Final Review but they are waiting for HOA information. All fine and good, but coming really close to our extension date ending and getting worried. Who contacts the HOA?

    #64252
    Nelsont
    Member

    It depends on what kind of information they want. It could be you/your agent or it could be a phone call between them and the bank, in which case it’s up to the HOA to pick up the phone or return messages which doesn’t always happen right away.

    #64253
    Our1sthome
    Member

    @amIclose that is good news for you. Here’s hoping you hear something soon.

    #64255
    AmIClose
    Participant

    My application status went from “Approved-outstanding conditions” to “Application-Loan Estimate” This is backwards in steps isn’t it? Any reason why it went backwards?

    #64256
    Peapod0609
    Member

    @AmIClose is there any way to reach out to the HOA and confirm they’ve sent the required information to the bank? That’d be the only thing I can think of.

    HOA stuff can cause delays, I’ve heard about it before. Hopefully BOA gets their needed information soon and give you that CTC!

    *EDIT* Just saw your comment about going backwards, don’t look at it like that. That just means someone is in there looking at your file. You will likely see your status change again pretty soon.

    I actually got that exact same status right before my UW – CTC status, if I remember correctly! In short, it should be nothing to worry about.

    • This reply was modified 2 years, 5 months ago by Peapod0609.
Viewing 10 posts - 16 through 25 (of 25 total)
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