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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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how much longer? Bank Appraisal tomorrow...
Mortgage guy said that we'll have to wait five or so days for the return of the bank appraisal.
What happens after that? how much more time do i have to wait?
i know, i know.. i am impatient.
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Posted 11/10/09 8:13 PM  |
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LIF Toddler
Member since 8/09 391 total posts
Name:
Lisa
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Re: how much longer? Bank Appraisal tomorrow...
My appraisal was done last Wednesday and I heard today that the file was complete with the title today and in with the underwriters. I was told I should hear that we are cleared to close by Friday.
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| Posted 11/10/09 8:30 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: how much longer? Bank Appraisal tomorrow...
because im in a negative nancy mood, i will tell you that you will wait and wait and wait some more.... figure on about another month... (ETA: this is just my special case... others may be more or less)
we are still waiting on a closing date... our contract said on or before 10/30.... looks like we're going to close around 11/20 instead... if that helps at all... and that was with a rush put on our file!
your mortgage will go into underwriting if it hasnt begun already... you will be asked for tons of docs... and then asked for many of those docs all over again as closing approaches
 once your file is complete (and you're of course approved for the loan), you'll be cleared to close
Message edited 11/10/2009 8:34:35 PM.
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| Posted 11/10/09 8:33 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: how much longer? Bank Appraisal tomorrow...
Posted by MaZz
because im in a negative nancy mood, i will tell you that you will wait and wait and wait some more.... figure on about another month... (ETA: this is just my special case... others may be more or less)
we are still waiting on a closing date... our contract said on or before 10/30.... looks like we're going to close around 11/20 instead... if that helps at all... and that was with a rush put on our file!
your mortgage will go into underwriting if it hasnt begun already... you will be asked for tons of docs... and then asked for many of those docs all over again as closing approaches
once your file is complete (and you're of course approved for the loan), you'll be cleared to close
see.. i am prepared for this. the other houses i have closed on were like this. this time around, it seems so much quieter. Like so much less documents being asked for again. however, i haven't dealt with the underwriter yet. but, i gave them ALL my paperwork. faxed over 40 pages worth of info... the only thing i am hoping for is that my atty, this mtg broker and my realtor work together, have numerous times before and maybe they have their sh!t together?
the underwriter's performance will base my opinion on this bank 100% so they better be good!!
using continental, in case anyone has more info on them... FHA.
Message edited 11/10/2009 8:47:22 PM.
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| Posted 11/10/09 8:46 PM |
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Jessah
I love my dogs :)
Member since 2/08 1344 total posts
Name:
Jess
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Re: how much longer? Bank Appraisal tomorrow...
Posted by rkoenke
Posted by MaZz
because im in a negative nancy mood, i will tell you that you will wait and wait and wait some more.... figure on about another month... (ETA: this is just my special case... others may be more or less)
we are still waiting on a closing date... our contract said on or before 10/30.... looks like we're going to close around 11/20 instead... if that helps at all... and that was with a rush put on our file!
your mortgage will go into underwriting if it hasnt begun already... you will be asked for tons of docs... and then asked for many of those docs all over again as closing approaches
once your file is complete (and you're of course approved for the loan), you'll be cleared to close
see.. i am prepared for this. the other houses i have closed on were like this. this time around, it seems so much quieter. Like so much less documents being asked for again. however, i haven't dealt with the underwriter yet. but, i gave them ALL my paperwork. faxed over 40 pages worth of info... the only thing i am hoping for is that my atty, this mtg broker and my realtor work together, have numerous times before and maybe they have their sh!t together?
the underwriter's performance will base my opinion on this bank 100% so they better be good!!
using continental, in case anyone has more info on them... FHA.
I just used continental...our process went much faster then many!!!
inspection-8/20/09
signed contracts-8/27/09
seller signed-9/2/09
appraisal came back on-9/28/09
we closed 10/29!!
it only took that long because we did VA and they have to send it down to washington to be approved etc...yours wont be as long!
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| Posted 11/10/09 9:20 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: how much longer? Bank Appraisal tomorrow...
We didn't use Continental but closed rather quickly. We had fully signed contracts by 8/15 and closed 10/6. That was with 2 slow downs. One was Labor Day and the other was that our first appraisal came in $5,000 less than the purchase price. That appraisal was a "drive by." We demanded a full walk through appraisal and the value shot up $12,000 over the asking price.
As soon as the second appraisal came in, we closed within a week.
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| Posted 11/10/09 9:54 PM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: how much longer? Bank Appraisal tomorrow...
it had taken a month or two for us for appraisal but we had issues to take care of during the title search.
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| Posted 11/10/09 10:42 PM |
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rkoenke
my little piggys
Member since 3/08 4315 total posts
Name:
rachel
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Re: how much longer? Bank Appraisal tomorrow...
Posted by Nifheim
it had taken a month or two for us for appraisal but we had issues to take care of during the title search.
Oh! our title was ordered (on rush) November 3rd so we are into about a week now. the Atty works with this title company and thinks it will be two weeks or less..
oh! i am so excited!
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| Posted 11/11/09 7:27 AM |
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Mrs-D-Girl
Love my fur baby
Member since 8/07 5183 total posts
Name:
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Re: how much longer? Bank Appraisal tomorrow...
Honestly, it totally depends on the people you are working with (Bank, lawyers, etc..) It used to take 30-days or less to clear to close once appraisal was done, I think those days are over.
Underwriters are so backed up and from experience on my re-fi once I gave them all my paperwork, I think there was about 5 other times they wanted something else and there was plenty back and forth.
When I bought in 07, I don't think it could have been easier. Appraisal to closing was less then a month, but again times are different now.
I hope it goes smooth though for you and best of luck
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| Posted 11/11/09 9:14 AM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: how much longer? Bank Appraisal tomorrow...
Posted by Mrs-D-Girl
Honestly, it totally depends on the people you are working with (Bank, lawyers, etc..) It used to take 30-days or less to clear to close once appraisal was done, I think those days are over.
In our case, our apprasial was done on 10/8... so its now over the 30 days and still no closing date... we should know within the next week or so though... but thats also bc a rush was put on our file... so its def taking a bit longer... right now, the rush to get in before the 8k nov 30th deadline is driving up the process times... we all know now that it has been extended but alot of us rushed for that deadline!
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| Posted 11/11/09 9:24 AM |
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