Close Early?

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  • #74173
    MayX2
    Participant

    Hi NACA family!

    Thank you to @TTrumble and @Nelsont for running this forum. It’s been a great resource for questions and answers, but for me, it’s also been a wonderful escape in-between stages with NACA to come and read through everyone’s experience while waiting.

    I feel like I can see the light at the end of the tunnel!!! This past Friday (2/6/21) I got Clear to Close. I’m actually ahead of schedule since my closing isn’t until 2/26/21. I know BofA will have to do VVOE before CTC-Final. Is VVOE done soon or is not done until the week of closing? With being ahead of schedule, I’m DREAMING of closing early hahaha 🙂

    Thank you again for everything NACA fam!

    #74175
    Nelsont
    Member

    I do not work for naca…

    It should be done almost immediately.

    Closing early is possible though not realistic. In your case it might happen.

    Keep the mindset of 2/26 and anything sooner should be a bonus.

    #74176
    MayX2
    Participant

    @Nelsont Well you could certainly pass as a NACA employee! hahaha either way, thanks for all of your knowledgeable contributions in here!

    Thanks for the VVOE info and for info on closing early too. Sounds like its best to just keep to the path/momentum and see where the chips fall. 🙂

    #74206
    TTrumble
    Member

    Hello MayX2,

    The VVOE is literally the very last step before the final clear to close is issued. Once they get that, you are headed for a very enjoyable case of writer’s cramp! 😀

    I am truly grateful for @Nelsont’s assistance here. He does indeed know the NACA program extremely well, and it’s a massive help since I can’t always be here as much as I would like these days. FYI, he’s a NACA homeowner himself and is actually the latest in a string of NACA Members who have very generously given back through helping others here in the Forum.

    Please keep us updated on your progress.

    Tim Trumble
    Online Operations, NACA

    #74335
    MayX2
    Participant

    Just got home from closing! Ice storming here in Richmond, VA but we got it done! ~$50 in closing cost, 2% interest, and closed early!! 2/18 vs 2/26 initially. THANK YOU @ttrumble and @Nelsont for everything yall do!

    #74346
    Blessed6
    Participant

    Congratulations @mayx2! What a blessing!

    #74549
    Whall6
    Participant

    Mayx2, is there anything specific you did to close early?, I haven’t heard of many early closings.

    #74550
    MayX2
    Participant

    @Whall6 Nothing in particular. It was scheduled to be a 45 day closing but luckily got through Credit Access quick, likely due to student loans really being my only debts. I think also finding a house that didn’t have any “Required” HAND repairs also helped it speed up. Good luck!

    #74562
    TTrumble
    Member

    Hello Whall6,

    There are quite a number of early closings, and most do close on time. Thank you @MayX2 for being one of the very few who post when things go right or even better than expected!

    Roughly one in four residential (some sources say one in three) real estate transactions in the U.S. fails to close on time for any one of a number of reasons. That’s industry wide, not just NACA. It’s just a fact of life when buying a home, but since the vast majority of NACA members are first time homebuyers they aren’t aware of that fact.

    That being said, the simplicity of MayX2’s financial picture and the lack of repairs probably did help at least a little.

    CONGRATULATIONS MayX2!!!!! Enjoy your home!

    Tim Trumble
    Online Operations, NACA

    • This reply was modified 7 months, 1 week ago by TTrumble.
    • This reply was modified 7 months, 1 week ago by TTrumble.
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