29-Apr-2010
Posted by : Oleg
I talked over the phone this morning with a loan officer with a bank and I faxed him all the paperwork he said he needed. He did say that if he needed anything else that he would call me and then that he would call me to let me know if I was approved.
Oddly enough he told me how much my payments would be a month….is that a good sign?
How do they verify your income if it is social security? Do they go off the letter of award that I got from social security?
So..how long till I know if I am pre-approved?
G-Man
I am guessing now that it is not a pre-approval, because he asked for all my verification forms to be faxed to him today. (Income and banking statements from my current bank.) I think he pre-approved me based on my waiting an 80/20 loan and having a credit score of 589. And I am sure that he said that he would call me to tell me if I was approved or not…so even if I was denied he would call me. My current bank says I am fine and should get a loan.
28-Apr-2010
Posted by : Oleg
Also I will be a first time home buyer and I will be taking advantage of the city’s first time home buyer programs.
28-Apr-2010
Posted by : Oleg
husband has excellent credit, i have fair. getting loan from bank. i know depends on lots of factors but can it be done in like 3mo?
28-Apr-2010
Posted by : Oleg
We are buying our first home and the under writing seems to be taking forever. Any feed back would be great.
27-Apr-2010
Posted by : Oleg
We just settled on our house last week and would like to do some repairs on the house. We don’t have the cash, but would like to take out a home equity loan, but weren’t sure if there was a “grace period” or something similar before you can do that.
27-Apr-2010
Posted by : Oleg
We have been working on closing a deal on purchasing a home, but I have had some communication difficulties with the mortgage broker. We started the process on June 2 and set a June 30 closing date. The Real Estate broker called today and said the mortgage broker was just sending the paperwork to the underwriter today or tomorrow. Will we still be able to close in 8 days?
25-Apr-2010
Posted by : Oleg
There are credit issues and the loan package has gone to underwriters. We’ve been dangling for nearly 3 weeks without a ‘yes’ or ‘no’ on our loan status. We’re considering taking our data and seeking another mortgage company to service our loan, but we don’t know if the long wait is normal or if we’re being put on someone’s “back burner”. Are we being strung along or just impatient?
Thanks for all the answers! We were able to resolve the problem today!
25-Apr-2010
Posted by : Oleg
hi!
so if you are unemployed and u have a home modification loan. how long do you think will it last?
so for example:
-u are unemployed
-hve a home modification loan (reduction in home payment)
how long do u get this for?
and
another question:
wat happens if ur uneployment benefits are over and hve no job……….how long do u get to keep the house?
25-Apr-2010
Posted by : Oleg
Category : home loan
Tags: applied, approved, bank, First, home, know, last, Loan, long, take, Thursday, time
This is my first time buying a home, and the closing date has been set for 9/21. I want to know when I should hear something about whether I am approved for the loan or not. I am anxious and can’t sleep due to worrying about it. I have signed all the papers for the loan, and gave the loan officer the insurance company info for the homeowners insurance, and I have the home picked out and the owner and I have agreed on a price. All I am waiting for is approval.
So…how long does it usually take to get approved? (I don’t know if it matters, but it’s an FHA loan)
24-Apr-2010
Posted by : Oleg
The loan has already been processed by the loan officer and their underwriter. It has been sent to USDA. How long of a turnaround time should we expect for USDA to approve the loan? In NC if that makes a difference.
