Does anyone feel like..

[misscammiej]

The more you read here the more stressed you get? I am so addicted to reading posts here, but I wont lie it makes me extremely anxious and antsy haha. We are in "processing", and they officially have everything they need. Waiting on UW I guess? Anyone want to give me a run down of what to expect with the UW with Wells Fargo? We are getting an FHA loan. Our closing date is July 1st. I need all the support I can get. 

[foofighter74]

Remember that the bulk of the people who post are those who are experiencing some sort of difficulty, and they either have a credit issue like a collection, judgement, etc, or some sort of income, employment, or financial related issue that is causing a holdup or denial.  The fact is, people can and do have smooth mortgage processes every day...they apply, compile all the documents needed, respond to their conditions, and get approved...all without much delay or difficulty.

Having said that, you mentioned you're going into UW with Wells Fargo.  I would expect a long, drawn out process as from everything i have seen and read, Wells Fargo is overwhelmed with loans and their processing time is backed up because of it.  I think if you expect that it won't be a quick process going in...then perhaps it will fly by.  lol.

[Adalen]

My home buying process was pretty smooth and all the anxiety I felt was from reading random things here that made me question my eligibility, haha.  Learned a lot from here also but I agree with foo.  It is important to remember that most people who write reviews or experiences online are motivated by some sort of negative experience but it in no way represents the majority of experiences.

[misscammiej]

Ha! We do have 2 medical collections, both 4 and 5 years old. Those are the extent of our credit worries.

[misscammiej]

Thanks!! 

[tooleman694]

My second round trying to buy a house was actually really smooth. If you have everything in order and nothing too bad it should be easy.

A couple of old collections is nothing to worry about.

[foofighter74]

We have no collections, no chargeoffs, no disputes, no liens, judgements or late payments within 3 years.  We're going through a conservative lender that has strict DTI ratio requirements for FHA (unless you're putting a ton of money down), and we've had absolutely no issues thus far.  This is is a new construction purchase, and they pulled tax transcripts, did employment verifications, etc at the start of construction.  They were essentially verifying information used to give us a conditional approval...and our credit card balances have gone down since that time, our income and bank account have gone up, and we've not had any hassles thus far.  Every time a month ends, i print out the bank statements as well as save them on my computer including copies of any non-payroll related deposits (front and back of check, plus deposit slips - we have a health plan that pays dividends for staying on a fitness or nutritional program, and we've had a couple of small $25 deposits for birthday gifts, nothing too extravagant), and I've got all our paystubs together in the file with everything else.  Apparently, we are in underwriting for final approval...and really, we're just waiting for the house to be done, the appraisal to be done and I assume we'll have to update bank statements and pay stubs, plus have another credit pull done.

We aren't expecting any major issues. This doesn't mean we'll expect to close on time, but you never know. Miracles do happen. lol

[Startfromwithin]

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@misscammiej wrote:

The more you read here the more stressed you get? I am so addicted to reading posts here, but I wont lie it makes me extremely anxious and antsy haha. We are in "processing", and they officially have everything they need. Waiting on UW I guess? Anyone want to give me a run down of what to expect with the UW with Wells Fargo? We are getting an FHA loan. Our closing date is July 1st. I need all the support I can get. 

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I can relate misscammielj.

I am right in the middle of the process (as far as time goes - Settlement is scheduled for June 3rd) and so far it has been pretty smooth. I had a few minor credit issues, and a couple of miscellaneous worries, but no one has made a big deal about anything... yet.

Because I like plugging into these Forums and have read some things that I'm not sure I would survive if I were going through them, a part of me is anticipating that something just might come up before I get the keys to my new home. Another part of me feels optimistic.

I've been updating my thread with new activity, and I hope we all ultimately end our process threads happy and with keys in-hand!

There are a lot of us in the thick of things. You're not alone!!

[laz98]

I'm not even CLOSE to buying a house yet, & reading here (to learn) makes me anxious!!!