What does clear to close mean? You may also see it in emails between your lender, Realtor, and title company as “CTC”. This is a huge deal in the process of buying or selling a home.
It means the underwriter has approved all documentation necessary for the title company to schedule the closing and start drafting the Closing Disclosure. What it doesn’t mean is that you CANNOT go and buy a new car, get a new credit card, or drain your savings account to go on a vacation or buy a bunch of stuff to update your new home.
Because what will happen is that you will end up with a new car, new credit card, you may go on vacation, or you will have a bunch of furniture to improve a house that you will be UNABLE to buy! So if you’re buying a house, and you just received a CTC….congrats! You’re one step closer to home ownership, and that’s awesome!
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