I am a big chicken!!!!

[wildbillcody]

So we got prequalified, made an offer on a house and it was accepted. Gave our deposit check and escrow was opened and my mortgage lady emailed me and my realtor and said "ok, I will order the appraisal". But I am too chicken to ask her "does this mean we were approved?". do they normally order an apprasail with out approval? I have no fingernails or skin around my fingernails left, haha..

[ama0301]

It does not mean that you are approved, it is part of the process. Good luck !!!!!

[kimmiller112]

Buying a home is a huge deal.  Do not ever be chicken to ask any question.  Make sure you understand everything during the whole process.

[okley70]

 Appraisal is a big but early step. You have to hope it comes in around asking price or little over. Other wise you have to depend on the seller to lower the price of the home. Depending on which loan you get. Usda, FHA,VA ect. Next comes the home inspection. Also comes out of your pocket. Then they process all your paper work. Bank statements w2 paystubs are the easy ones. But they will want crazy stuff. That will last about 5-7 days of asking you for every paper trail you could imagine. Then it will go to underwriting for about 5-7 more days. Then it goes off the fha or USDA. Or what ever route you are going. That will take 3-5 days FHA and in Arizona with Usda it take 7-10 days. Then you will be approved or denied. Yes after all that . If you are approved then the file is moved back and forth through lender and title for a few more days 2-3. The you sign all other docs. Then the file goes to the county to be recorded. Then you get your keys. And IM sure I missed a step or two. I also was so sick and nervous. But don't buy trouble. Take it easy and ask your realtor any question you have. That's why you pay them. They get a lot of money thousands they have to help. I called mine 52000 times morning noon and night. Sometime midnight if I was thinking of something. But good luck 

[JAM2013]

Although I was fairly certain we would be approved, we did not get a full approval until a few days before we closed which was a good few weeks after we paid for an appraisal.  Thankfully we did not have any conditions that needed to be met.  Our offer was accepted on May 7th and we closed on June 14th.