Final Underwriting Approval – The Buyer's Financing

The finish line is in sight but we’re not done yet.
Every buyer’s lender must have a final review of all the reports, documents and situation.
Reputable lenders have the best track record of avoiding blowups at the end.

How do we know when it’s actually approved? The key words are “clear to close!”
The Closing Disclosure (CD) must be issued and a 3 day wait period begins.

When do you know your final numbers? We do our best to get it as early as we can but it could be the morning of closing. Your Transaction Coordinator will email you the final numbers, if you have questions, contact your Listing Agent.

The final walk-through is usually 1-3 days prior to closing. Your TC or buyer’s agent will call you to set up the time. You will need to be accommodating to let them in. Any questions, ask your TC or Listing Agent.


7 thoughts on “Final Underwriting Approval – The Buyer's Financing”

  1. Hold on…..this right here 0:37 is NOT the definition of a pre-approval. Preapprovals are NOT based upon what the potential borrower TOLD you, When a borrower TELLS you certain things but doesn't send in documentation, THAT's a pre-qualification. If a potential borrower wants a pre-approval s/he has to go one step further and submit financial documentation such as their income, their bank statements, tax returns, etc.- which is why most real estate agents are more interested in a pre-approval rather than a prequalification. Not making this distinction and mistaking the definition of a prequalification for a pre-approval makes me skeptical about whether the rest of the process described is accurate.

  2. I have a closing date for Nov.27th but I haven't received clear to close as of yet . Dose that sound correct to you ?

  3. I am currently purchasing a home and I received the CD on Tuesday and my final walk through was yesterday and I’m still waiting for CTC and my closing is set for March 30, 2021. I am so frustrated and I feel as if, they are working completely backwards.

Leave a Reply

Your email address will not be published.

Related Post