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I'm going thru underwriter hell right now. They are telling me that I can't use the earnest money check even though it came out from the bank that I'm getting the mortgage with and there is a direct deposit showing that there is sufficient money to cover that check. I'm being told because the checking account was opened with cash that the bank check that came after a direct deposit is no good.
In the end all worked out well for me, there was another issue of a previous FHA application for a loan that fell thru because of a low appraisal holding things up, but in the end I was able to close on time and didn't have to submit more paperwork for the underwriting.
We did a refi and the amount of hoops we had to jump through was unreal. We brought $9,000 to the table get to a 80/20 loan and eliminate PMI. We have credit scores over 800, long term jobs, very low debt to income, mortgage/taxes/insurance is less than 20% of our gross. And they literally made me send 4 months worth of paystubs and they made my wife send an entire YEAR of paystubs.. shes a fulltime government employee fyi. We also had to show where every single deposit in our bank account came from for the past 6 months. There was a lot of other random forms we had to fill out and they even called both of our employers AFTER we were told the loan had been processed.
We ended up getting an amazing rate and I'm happy.. the funny thing is not even 2 weeks later they sold our mortgage right back to Wells Fargo who originally had our loan before when it was 1% higher.
Wow, not sure what that was all about, but it's obvious no one told you about the preclose verification. Almost all lenders perform a pre-closing verbal verification to make certain you are both still employed. This can occur any time from 10 days to 2 days from signing.
We are going through something similar. Our mortgage broker missed the commitment deadline and responded that it’s no big deal, happens all the time. Thankfully the seller stuck with us and we continued providing every document asked for. We were told by the broker that because she got sick with Covid she needed to put us on the back burner and focus on more pressing settlements. Now here we are the morning before closing and she’s still asking for documents!!! Needless to say, we now are being extended which means the seller can’t close on the home she’s buying in another state and this will end up costing us more money! This broker will not take/return any phone calls and only communicates via text/email. She now has her husband who works in a different office responding to our frantic calls/emails because “she can’t handle confrontation”.....I think a complaint to NMLS and the BBB is warranted....
I have about a 780 credit now, im in my mid-20s, have a good amount of money saved up, under 20k in debt, and was looking to get a 100k mortgage. I got approved for 100k mortgage if I put at least 10% down.
I went the new build route so I have to use the builder's mortgage person to get what was a sizable incentive. She was such a B that I know of at least one neighbor who used their own mortgage person, incentives be damned.
We did a refi and the amount of hoops we had to jump through was unreal. We brought $9,000 to the table get to a 80/20 loan and eliminate PMI. We have credit scores over 800, long term jobs, very low debt to income, mortgage/taxes/insurance is less than 20% of our gross. And they literally made me send 4 months worth of paystubs and they made my wife send an entire YEAR of paystubs.. shes a fulltime government employee fyi. We also had to show where every single deposit in our bank account came from for the past 6 months. There was a lot of other random forms we had to fill out and they even called both of our employers AFTER we were told the loan had been processed.
We ended up getting an amazing rate and I'm happy.. the funny thing is not even 2 weeks later they sold our mortgage right back to Wells Fargo who originally had our loan before when it was 1% higher.
Oh my. I have to get rid of my PMI as well. I think it used to just roll off, but now, you have to refi. I am not looking forward to it.
I need my 2021 tax return finished to do a no cash out refinance, but my CPA got "CREATIVE" again with my numbers. after I explained to him I already ran my numbers through turbo tax and came up with my AGI. Glad I have an extension till Oct 21. So frustrating.
My lender ran my credit and it is above 770. He asked to see my unconfirmed tax return and that was 2 weeks ago...
How long have you had the first born? Theses are tough decisions, but you may need to consider that it’s time to let him or her go.
Yes, our loan was comparatively difficult, but having watched a $300k investment go entirely down the drain in 2007, I’m appreciative of the need for greater oversight.
We are going through something similar. Our mortgage broker missed the commitment deadline and responded that it’s no big deal, happens all the time. Thankfully the seller stuck with us and we continued providing every document asked for. We were told by the broker that because she got sick with Covid she needed to put us on the back burner and focus on more pressing settlements. Now here we are the morning before closing and she’s still asking for documents!!! Needless to say, we now are being extended which means the seller can’t close on the home she’s buying in another state and this will end up costing us more money! This broker will not take/return any phone calls and only communicates via text/email. She now has her husband who works in a different office responding to our frantic calls/emails because “she can’t handle confrontation”.....I think a complaint to NMLS and the BBB is warranted....
So frustrating. How are things progressing for you now? Have you gotten the owner of the real estate company involved? And the person who heads up that mortgage company? These are odd times but we have discovered that going up the line can help. All the best.
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after I explained to him I already ran my numbers through turbo tax and came up with my AGI. Glad I have an extension till Oct 21. So frustrating. 
