Good Morning to all of my Fico Friends!!
I wanted to share the good news that I closed on my first home on 7/28 with Wells Fargo! I'm so happy that this process is finally over but I wouldn't have been able to do without the help of this forum and my first time homebuyers class. Please do your research and ask as many questions as possible before you submit your materials to your loan officer to avoid any confusion.Wells Fargo asked me for two letters of explantion and supporting documentation a day prior to close so that is something to be aware of if you choose to use them.
If you have any questions about my process with Wells Fargo please let me know, I have a love/hate relationship with them but my loan officer was amazing that is what made the differance.
We're currently working WF too! Last week week we got the green light "conditional" letter that needed more documentation. We're doing an FHA loan that is supposed to close on Aug. 22. Any advice and wisdom you can give about working with WF? So far, they have been pretty timely working with us and I've tried to be as fast as I could be in getting them documentation.
Great! I'm so happy to hear that!! Good Luck! My advise would be just get all of yoru documentation in on time and attach a letter of explanation about the documentation even if they dont ask for it. I had to write a letter of explanation for 51.00 that was deposited into my account 1 day before closing and provide them a copy of the check so just beware that they may be asking for these documentations but once the underwriter looks at everything there could be more. Oh make sure you submit all of your docmentation at one time so you loan officer can submit everything at once to underwriting it makes the process go much faster. Are you using the "new" online tracking system to track your application?
Forgot to tell you - CONGRATS! Also, I did not know that I could track my application online. Do you have a link that I could follow?
When my credit was checked during my Pre-Approval my scores were 619 638 651, my score then was check again by my loan officer once she received a final sale contract and my score where 621, 643, 6?? (I can't remember the last one but my middle was 643) The reason why my credit was checked twice is because when I got my pre-approval to the time I my offer was accpeted some time had passed so she needed to refresh my documents for underwiting.
Once my loan was condinally approved is when i received the link and that comes from your loan officer because they have to provide you with a password to access it. She stated that it was the "new" system that they are now required to use, so ask your loan officer if they are using the new system or the old one, but I'm located in the state of maryland so I dont know if that has anything to do with it also but is the link.