For weeks I have been posting that we're still waiting on our loan approval, and guess what? We're still waiting. I guess the difference with the wait has a lot to do if you're doing an FHA or conventional loan. Sorry for us, we're going the FHA route because I still own my home in Virginia and well, the debt ratio thing prevented us from going conventional. Our loan associate from NVR sent an email yesterday asking for guess what? Man, you guessed right again, more paperwork! I know for certain we cross checked all the items we needed but nope, they needed more.
Having brought a home in 2002, I'm really amazed about how difficult the process is now. They want everything--I'm surprised they did not ask for our first born. As my father stated it has everything to do with the crisis our country went through and is still in. I have very good credit, but I was last on paying a bill twice, and I had to write a letter explaining why. Sheesh!
Speaking of letters, I managed to write a total of 4 and we still need to get proof of something my husband paid off two years ago to show that the debt is settled. I hope to have these items to them by Monday and finally then, our loan will be sent to the underwriter. From your experience was it smooth sailing once it went to the underwriter. Time is getting close, we have to be out of our current apartment by November, so we need to break ground by mid-July and that is just about 3 weeks away. So, let's take some bets--when do you think we will hear back for loan approval? Well, guess I need to get back to work and then off to see the new movie, Brave with my favorite nephew.