Question Details

Ali, Home Buyer in Buffalo, NY

Condo buying

Asked by Ali, Buffalo, NY Tue Dec 2, 2008

I need help. here is my situation. My bank has told me that I am approved for 5% down conventional loan, and my interest rate is also locked. This is all via emails and I jsut have DU underwriter findings form bank. I like a property and will sign a contract end of this week. But, lawyer said he will need downpayment ck. in escrow acct and if we dont go ahead, we will loose that money. Now, bank said he will give me commitment letter after getting the contract and appraisal. I was denied 5% conventional by one bank before and am scared what if I give my donwpaymt money and then find out bank is not ready to give me loan? I am only suspicious because my old bank worked very hard but couldnt approve me and this new bank approved me within 2 days and the new bank does not know about the old bank deal that I was rejected, etc. so I cant express my fellings openly to them that I am scared and need something in writing? Please help

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