· What does clear to close mean?. The lender will work with all parties to schedule your closing, this usually happens at the title company or a closing agent will come to your home if you prefer. On the day of closing, you’ll sign the mortgage documents, get the keys to your new home, and walk through the front door!.
Your lender may give you a "clear to close". That is great! That means that your lender is satisfied with everything they have, but they are only one part of the equation. It does not mean you will be closing tomorrow. Once again, it will depend on if all the players are set and ready to go.
Hearing that your loan is 'clear to close' is exciting, but before you count on. do this again, but a lot can happen in the month or two time span.
Checkpoints 9 & 10 – Clear to close & Closed. ordered funds from the lender to be delivered for the business day after you close so the loan. Next, we tackle what happens when we get derailed in the process – Snowed in.
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Clear to Close to me usually means the bank has given the attorney’s the go ahead to schedule the closing which usually happens with in a week or so depending on how tight everyones schedule is. Sometimes it will happen sooner especially if buyers lock in is about to expire or if there is a time is of the essence clause.
The question I have is where was the ball dropped. If the loan was cleared to close then the underwriter should have already looked into this. So either the lender cleared a loan to close and was wrong (or the client made a mistake after the fact) or the loan was never cleared and was still in underwriting.
When underwriters designate your file as "cleared to close," it means that the documents you have provided to the underwriter have passed their scrutiny and that the closing agent has the.
Make sure you communicate with your attorney and your lender to confirm that your closing date is set. Closings generally take place Monday.
Being clear to close (ctc) means you have satisfied all the lender's. other requirements may be added after an underwriter reviews your loan.