Thursday, January 31, 2013

Loan Anxiety

So after submitting our loan application on September 25th, it finally went to underwriting on October 16th. To say that we thought this step took forever was an understatement.

*It’s hard to show our anxiety since we already know the outcome of this process (hence, trying to catch up the blog) however, this process was very heart wrenching to say the least. *

Communicating back and forth through email with the loan processor that was assigned to our loan as well as with the mortgage rep that we filled the application out with was very nerve wracking. Paperwork seemed to be coming out the wazoo (I don’t really say words like that but it just seemed fitting for that statement) and the more time we spent thinking about this loan, the more it felt like it was unobtainable. 

We kept our Sales Rep in the loop about everything and she was just as anxious as we were…that is until that fateful day, FINALLY, on December 6th, our loan was denied. Yes, December 6th!!!! That’s around 57 business days from the start of our loan process! So of course, by this time we had some idea because there is no way that it should have taken that long to get a response about a loan; however, we had a game plan already in motion. 

The same day we got denied by NVR was the very same day we applied to (a Non-NVR bank) - this was a Thursday.  We got a confirmation that our loan was approved that very next Monday, December 10th! Was that divine intervention or what?!?! Can we say “WHOOP WHOOP” for our loan officer!!! Yup, we all did our HAPPY DANCE because the stress was over and the fun was just beginning…

1 comment: