STRESSED over the VA loan process, please advise...

[Anonymous]

My husband and I are pre-approved for a VA loan and under contract for a house with a closing date of July 24th. 

Unfortunately we're getting no information from our lender on where the process stands.  I'm not sure if an assessment has yet been ordered, if the certificate of eligibility has been received. 

Our biggest concern is that we may have an offer on our current home in the next 24 hours, but don't want to sign a contract until we're 100 percent sure that we have a home to go to.

So I have a few questions...

1.  If we are pre-approved through the automated underwriting system are our chances good that there will be no financial obstacles to the close?

2.  Is it unreasonable to expect updates on important milestones in the loan process, such as the ordering of the appraisal and the arrival of the COE?  (I don't want to irritate the LO to the point she drops us.)

Basically I just need someone to tell me I can calm down enough to get some rest, I'm exhausted from the stress...

[musikklvr]

Hi Nola,

I am going through the VA process right now and it is VERY stressful. Until you get the keys it will be stressful.

I ordered my COE myself before I applied so it will go by a little so I really do not know how long it takes for that.

I don't hear that much from my lender either, however, they should keep in touch with like you said the milestones. They should tell you when they ordered the appraisal. At least mine did.

Once I got pre-approved automatically, I ordered my home inspection, I gave my lender all of my documents, it went through to UW and then the appraisal was ordered. I lost the house due to the appraisal being low so I had to start all over again. All of that took 2 weeks.

It is not unreasonable for the lender to let you know what's going on. They should let you know something.

[Anonymous]

Ok, I just received a loan committment letter.  Does that mean I'm definitely going to close if the house doesn't burn to the ground or we run up all of our credit cards?