Buying A Home
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Why is amount due at closing not being decided until day of?
We have to bring a certified check or set up a wire transfer for our closing on Monday. The final amount we owe is not being given to us until the morning of our 2pm closing. Why is that? We bank through USAA and there isn't a branch we can walk into to get a certified check, so we're setting up a wire transfer.
We're sort of confused about this part of the process because we don't understand how they don't already know the amount.
Re: Why is amount due at closing not being decided until day of?
I think certain rates are determined at the last minute? I was confused about this as well, but it was the same for us. I think they have to get the HUD approved.
For ours, they had us write the check for more than what we needed, and the cut us a check for the excess on the spot. Maybe that's an option for you?
Thanks!
Long story short, we were going to transfer money from USAA to Navy Federal since they have local branches but didn't realize there was a cap on the amount you can transfer in a 24 hour period and don't have enough time for it all to clear by Monday morning. Wiring it from USAA shouldn't be a problem, but I was curious if this last minute bit is standard.
Thanks everyone! We do have our good faith estimate and have more than enough money in the account we're wiring from to cover it x2. Our loan officer says she should be able to get us the final number today along with routing instructions, so we'll set up the wire with USAA.
My Chart My Nest Bio
LOL!
On that note, we're pissed at our loan officer now. She told us we'd get the amount and wiring instructions yesterday and we never heard from her. We will now be scrambling Monday to call USAA and set up the wire transfer either before or after driving 1.5 hours from where we currently live to where we are moving.