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Valued Member
Posts: 37
Registered: ‎04-12-2011
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So Confused Please Help!

Hi Everyone,


I have posted before but not frequently and I could use some advice.  I am so confused.  Smiley Happy


I am trying to get approved for a mortgage, my landlord is wanting to sell my current rental and I don't want to move too much since I have two young ones.  Any way I had to short sell my previous home because of my divorce, the short sale will be 2 years old this November.  My middle credit score as of today is 710 besides a 60 day late prior to the short sale my credit is perfect.  I have been calling around to see who if anyone will give me a mortgage and every broker and bank I have spoken to have told me I need to wait 3 years from the short sale except for one.  I have had contact for the last couple of months with a LO at a mortgage company that is through a local CU, he knows of my short sale.  He recommended that I go through their preapproval online today and see what happens so I did and I was preapproved for the loan amount I was asking with 10% downpayment, 30 years at 3.75%.  Is this too good to be true?  I asked the LO what this really means and he said I can start looking for a house.  I am excited but cautious.  I don't want to get into a contract on a home and then during the UW be denied.  Thoughts?  Again he's aware of my short sale and this is a reputal company locally based.



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