Wanted to share this. I had recently posted on this forum about our excitemnt of getting our offer on a home accepted. Recent events about financing delays and meeting a certain deadline on the contract were about to throw us off guard and added to a frustration about the buying process. My wife and I even came to a plan to just drop the whole thing off (there is a way out of the contract without them getting my earnest money anyways) because of delays by the loan officer at US Bank in getting a fully approved loan to meet the certain deadline before I am to suppsoeldy lose my earnest money.
Realtor calls me this Friday evening and suggests I call this person who is a broker. Call broker Friday night who gives me name of loan officer at Wells Fargo after broker asks how much money is in my savings account and asks what job do I do. Loan office calls me up Saturday evening and I tell him upfront that I need a fully approved loan ASAP but was not willing to put up with a lot of delays and vagueness about the process since we were ready to give up buying a house on the other hand. He tells me he is actually an underwriter and he proceeds to get info from me, later tells me he needs my old credit report (Dec 2009 pulled score) since I also told him I didn't want my score pulled again. Meet him today Monday in his office as agreed and I lock in a rate of 5.25% (no orig fees, $500 underwriting fee, $400+ appraisal fee) fixed for 30 years.......the previous loan application (which is still in process) was at 5.75% 5/1 ARM (no orig fees). Both loans are no prepayment penalties. This person I meet today congratulates me, saying he can get it approved tomorrow or the next next day. Whew....
I guess things turn out good in a way you didn't intend to happen, lol.
