As the title says, . . . new construction, we signed a contract back at the end of March w/ earnest money. Bank said to wait until 90 days within completion (estimated), which we are in now. So the lender asked for some documents, bank account statements, a letter from my CPA, etc. Today, we were asked to pay hundreds of dollars for the appraisal.
Does that mean that they are happy with the paperwork? It is my first time buying a home, so I just was wondering if anyone else put down $450 for an appraisal and was told they weren’t getting the loan for other reasons. The bank wouldn’t do that to us, right? So this is a good sign to get excited about?
I have no reason to believe we won’t get the loan, but it’s the only piece of the puzzle that can go wrong (unless a hurricane engulfs the entire area). And since I have no experience here, we’re all “on hold” until we know this is really happening (which we’ve been since March as they keep delaying the completion date). Kids and wife and I want to get excited but are trying not to just in case.