We are getting financed,the underwriter wanted us to have something removed from our credit report that wasnt ours,and wanted to add me to the loan with my 1099's.I am self employed.We did all of these things.Well my loan officer called and told us we are approved but with conditions.Well we won't know the conditions until Monday morning and we are supposed to close on Monday at 4! What are some things they might be asking for??
2007-04-28 13:55:31 · 3 answers · asked by mgirl 2 in Business & Finance ➔ Credit
I see this a lot. Most of the conditions are paperwork for someone besides yourself. An exception is you have to provide proof of insurance.
Other conditions I've seen are requirements on your attorney to provide Title Insurance, a Closing Protection Letter, other documents like that.
The conditions aren't usually a problem for you. Have a good weekend and don't worry.
2007-04-28 14:01:47 · answer #1 · answered by open4one 7 · 0⤊ 0⤋
Sometimes the conditions have nothing to do with the buyer at all. They can be something as small as add the suite number to the address on title,or add th loan number to the homeowners insurance simple things, things that can be done in two or three minutes. My advice to you is not to worry if your loan officer didn't sound worried when you spoke to her you shouldn't worry either if there was a major problem and you wouldn't be able to close Monday she would have said so. Congratulations!!
2007-04-28 15:04:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I am a loan officer in Florida conidtions are normal to have when submitting the loan, normally it consist of income, title, appraisal, etc the only thing is that if you are going to receive coniditions monday morning morning i think the loan won't be clear to close in time becuase normally when you submit conidtions it take 24 to 48 hours for them to clear... I wish you luck www.myspace.com/southfloridalending
2007-04-28 14:10:57 · answer #3 · answered by papo2386 1 · 0⤊ 0⤋