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Jafarion

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I'm concerned about the mortgage loan process taking longer than my closing date.
I have 6 days until closing and we're still not out of underwriting yet. What are my options? I have an 800 credit score, GF has a 790. I'm self employed, she's regularly employed. Combined Salary income is $90k/year. My bonus structure makes my income variable but I own 3 of the 4 companies that I pay myself with. Does anyone know once a loan is approved by underwriting, if there's any other contingencies I have to worry about?

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Frank Dodd act gives 3 days to review

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You don’t have a closing date yet.  You have a closing date goal ‘scheduled’.... but not a closing date.  The closing date is the date that you ACTUALLY sign the papers and is subject to change at any time during the application process for any reason.

The housing bubble burst in 2008 caused legislation to be introduced to prevent buyers coming back later and saying 'but I didn’t know about that part," even when it was clearly written in the terms of the closing documents.  The Frank Dodd act will allow you to review all the paper work 3 full days prior to closing.  If you (or the seller) find something you do not agree with in that paper work, the documents will need to be altered, and the closing will not happen on that date.  Period.

As for your question of what else could happen, it really depends on the individual underwriting conditions at the bank you are applying to.

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