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How long does it take????

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renaboo01
New Contributor

Re: How long does it take????



DallasLoanGuy wrote:
wells is in a world of hurt right now.
they cannot process all of their files.
 
use a mortgage banker who can underwrite in 1/5th the time. and usually for a better rate
 
 



Dallas, I am in Northern Cali. Who would you recommend?
7/31/09- EQ 678,TU 670, EX 677: I did it! I am a homeowner!!!
Message 11 of 15
Anonymous
Not applicable

Re: How long does it take????



Kareninaz wrote:
Do you know if any states have the DPA that aren't paid back by the seller? I'm worried since the market's so bad in AZ, that banks won't even do this. So far, a lot of the houses I'm looking at, even though I'm a way out yet, are bank owned. I'm also going to be looking into some grants.
 
Thanks
Karen


The only ones I know of that don't require the seller to contribute the money are the grants through your local hud offices.  The only problem is most people dont qualify for them because they are income based.  The worst thing is that the income for say a family of three is not that much higher than a single person income so most families are disqualified.  Dallas or Shane may know of programs that you might be able to use
Message 12 of 15
DallasLoanGuy
Super Contributor

Re: How long does it take????



renaboo01 wrote:


DallasLoanGuy wrote:
wells is in a world of hurt right now.
they cannot process all of their files.
 
use a mortgage banker who can underwrite in 1/5th the time. and usually for a better rate
 
 



Dallas, I am in Northern Cali. Who would you recommend?


i dont think that i am supposed to make open recommendations here in the forum.
your realtor will know a good loan officer.
let me know how it goes.
 

 
Retired Lender
Message 13 of 15
Anonymous
Not applicable

Re: How long does it take????

My LO submitted the final paperwork (many, many pages) to underwriting for final approval.  She said based on all of the information I should be able to go ahead with another offer (first on didn't go through).  Over 1 month and still waiting for that approval letter!  Well, they are probably the most reputable of the lenders that I've been working with so I will probably go with them.  My agent mentioned that if you go to some online providers they can charge you an early pay-off penalty.  She said Wells Fargo doesn't.  That's something to think about. 
Message 14 of 15
renaboo01
New Contributor

Re: How long does it take????



SuzieQuzie wrote:
My LO submitted the final paperwork (many, many pages) to underwriting for final approval.  She said based on all of the information I should be able to go ahead with another offer (first on didn't go through).  Over 1 month and still waiting for that approval letter!  Well, they are probably the most reputable of the lenders that I've been working with so I will probably go with them.  My agent mentioned that if you go to some online providers they can charge you an early pay-off penalty.  She said Wells Fargo doesn't.  That's something to think about. 


Suzie,
 
I am glad that everything is working out for you. I think I just got stuck with a really bad LO, so in turn it made me mad at the whole company. LOL. So I don't want to bash Wells, but they did loose me as customer in the mortgage department. But you seem to have really good person doing you loan, so I am happy that you are having a better experience then I did. Keep me updated.
 
Rena
7/31/09- EQ 678,TU 670, EX 677: I did it! I am a homeowner!!!
Message 15 of 15
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