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Old 06-12-2009, 05:57 PM
 
4 posts, read 23,508 times
Reputation: 12

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I was wondering, after attorney review can I still change the date to submit my commitment letter? We are planning on extend the closing date too. We have no problem getting a loan with good credit score, 20% down and money in bank. I was working with this lady trying to get into the first time home buying type of program. The underwriter will looking at it on monday, and we are not sure if we'll get approve. It's so annoying, I think the lady in the bank gave me some wrong info, and now I'm not sure if we can get that type of loan anymore also the interest rate jumped up in the past 2 wks. I don't even know if banks can give me a commitment letter within a week. My lawyer is on vacation so I'm here to see if anyone can help. Thanks in advance.
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Old 06-12-2009, 07:34 PM
 
Location: Central New Jersey
1,289 posts, read 6,098,143 times
Reputation: 300
I have had deals where the commitment letter was late before and it did not pose as a problem. Just as well I have had closings that ended up being earlier or later than the date on the contract. This is for both lawyers to work out together but in all honesty, as long as you are still getting approved, you should be okay. The owner does have the right to not sell to you if you do not meet the criteria of the contract but I rarely see this happen unless the owner is in a jam. So basically I would say that if it is only a little late, you should be fine. Good luck with your situation.
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