I just knew the house-buying was going too smoothly! Even though I checked at least twice to be sure everything was set, I've had to jump through three hoops so far this week. Thank goodness life is online - I'm visiting the east coast and simply couldn't provide this information if my physical files were required! The hoops:
1) Rental history
Yesterday my mortgage officer told me there's some new requirement and they need to have all of my rental history - presumably to contact the landlords and see if I've been a problem. Well, my friends, I've been renting for 19 years, the vast majority of my units from private people whose names/contact information I can't remotely recall. I gave them the information for my last six years (all in the same apartment) and my current landlord (my friend) and am hoping that is sufficient. I didn't ask if they wanted the other 13 years' information and hope they don't come back for it. If they do I can give them addresses, but they're on their own for finding out the owners at that time.
2) Personal loan
Today they FINALLY noticed & asked about the loan from my parents. It hit my bank in October, and they did get that statement ages ago (word to the wise, get a loan like that in your bank at least 3 months before you make an offer if you don't want it coming to light), but only now, ONE WEEK before closing, are they asking about it. So I told them it's a loan and forwarded the paperwork. The repayment is $100.80/month so hopefully they won't freak out. But, so far I've had to send them:
- a scanned copy of the loan agreement
And then, because I transferred it from my checking account into a money market account at Vanguard, which doesn't generate monthly statements, I also sent:
- a date-specific statement from that account showing the balance as of October 20 (before the transfer hit)
- a date-specific statement from that account showing the balance as of October 25 (after the transfer hit)
3) Closing costs questions
Most interestingly (/panic-inducingly) the processor says I'm almost $7,000 short for the closing costs and wants to know how I'm going to get it. This is news to me, as I've got more than $10k MORE than what I think I will need for my down payment and closing costs. I replied mostly-politely saying that I had a lot of money in the bank and if the closing was going to be even more than that, something was seriously amiss. They still haven't deigned tell me what the closing costs are, but are now looking more closely at the Vanguard account (see point 2 above).
Sheesh. So much for my relaxing vacation!