Pre Approved VA Loan and now....

[Anonymous]

I have a pre approval for a VA Loan, found a house and went under contract, home inspection is this week and expected to close in July, my lender wanted a letter for the reason why my credit was "dirty", I sent that and now they want a letter explaining all the "dirty"-ness....

Whats the difference between the two letters and does anyone have any advice at all? The "dirty" TL all happened at the same time for the same reason...

Please help...

[StartingOver10]

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@Anonymous wrote:

I have a pre approval for a VA Loan, found a house and went under contract, home inspection is this week and expected to close in July, my lender wanted a letter for the reason why my credit was "dirty", I sent that and now they want a letter explaining all the "dirty"-ness....

Whats the difference between the two letters and does anyone have any advice at all? The "dirty" TL all happened at the same time for the same reason...

Please help...

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Wow...I hope the LO was more specific than that!

Yes, the lender usually wants an explanation for each item. What happened, what you did to fix it and how will you prevent it from happening in the future. Nothing long - just a short letter of explanation for each derogatory item.

[Anonymous]

They didnt say dirty, I did.... Why would they wan a line item letter after getting an overall letter?

[mynameainttracy]

Welcome to the mortgage process. Be prepared to explain anything and everything. Not knowing what your letter explained, maybe they want more detail.

[peepers]

agree with above!  we had to do a letter of explanation for the credit pull THEY (the lender) did.  *slaps head*

[StartingOver10]

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@peepers wrote:

agree with above!  we had to do a letter of explanation for the credit pull THEY (the lender) did.  *slaps head*

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LMAO!  ^^^ So true.

[Anonymous]

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@peepers wrote:

agree with above!  we had to do a letter of explanation for the credit pull THEY (the lender) did.  *slaps head*

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Same here!

I felt like saying, "YOU did it; YOU write it." I then decided that was not a wise response, so I just nodded my head and sweetly complied.