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gonzo23456
LIF Infant
Member since 5/08 155 total posts
Name:
Wendi
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waiting on the bank
So we are waiting on the bank regarding our mortgage. Does anyone know if the assess the house prior to us getting the commitment letter. Once we get that what is the next step? TIA!
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Posted 8/9/09 12:26 PM  |
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MrsYank
She's here :)
Member since 4/07 3238 total posts
Name:
Mrs. Yank
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Re: waiting on the bank
Usually the commitment letter is what tells you that the bank will give you the loan under your specific loan conditions. One condition will definitely be that the house must appraise for what your paying for (or in that ball park).
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| Posted 8/9/09 12:49 PM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: waiting on the bank
this is what has happened for us so far:
We were pre-approved prior to the offer, pre-contract agreement, then contract.
After that:
1) Appraisal
2) Commitment Letter
3) HUD form (application for official mortgage) sent to us and now sent back all signed.
4) Title is actually done before HUD form but waiting on that to be officially cleared up.
5) Survey ordered - unknown status
Now we are just waiting to see what happens next, think as long as title is okay and cleared i am thinking we get a closing date then.
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| Posted 8/9/09 2:10 PM |
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