Smart Money: Thanks so much for your good advice.
I am applying for an FHA loan with the CHF Platinum down payment assistance. I didn't know when I first applied that there might be a delay due to the grant. Had I known, I would most likely have chosen to go straight FHA. Unfortunately, we are too far down the road for me to switch the terms of the loan. The loan has been approved and now it's just a matter of getting the paperwork through. Lesson learned.
The lender is the only one in this state who can do these FHA loans with the DPA grants, so they are swamped. However, it seems completely crazy that a standard sale loan, both the seller and I doing what we were asked as agreed and as quickly as humanly possible, should take more than 75 days to close. My mortgage
broker does not work for the lender and has to go through channels every time a piece of paper is requested or needs to be signed.
What a nightmare.
If I ever refi or buy again, I'm going to go conventional and walk into the bank and shake the loan officers hand like a person.
After speaking with my agent, who feels that my contract is definitely at risk, I called my representative and asked if they could try to assist me. I've sent them all of the pertinant information and we shall see.
If nothing else, this gave me something to do about it all so that I don't feel like a helpless victim. Thank you SO MUCH for your advice.
And I see people get something for nothing every day here at my place of business. I work in the film industry.