VA Home Loan and Underwriting... Help!!

[Jasbrek]

Any updates? What happened? Currently using them for a home loan but seriously considering a change at this point.

[fabadvice]

I was thinking the same thing. I hope everything worked out for the OP, I ended up using a different lender with lower interest rate. Still waiting to close but, so far so good. 

[Jasbrek]

Fab, who did you end up going with? That is my main concern is their rates seem high for a VA loan, and their origination charge seems high to me as well. Got about 40 days till closing so it is prime time for a change.

[USCGWife]

Well we ended up closing 3 days late. At the last minute we had to jump through some crazy hoops and pay off 2 accounts, one being the student loan account. I had to stay on top of our loan officer and the processer every step of the way, if I hadn't then our loan would still be in underwriting. Constantly having to email and call them and in the last week when emotions were running high I was actually told "Well you knew about these accounts and you should just do whats best for your family". If we could have changed lenders we would have. So my advise is if you are at a point in your loan to where you aren't 100% comfortable with them than I would switch now because it only gets worse. 

But we are in our home now and we love it! 

[armywifelong03]

We are getting ready to start the process in August and we have visited with Veterans United, among others.  I would LOVE any information, good or bad, you have!  Also, was your student loan truly deferred when they made you pay it off?

[fabadvice]

 Congrats, I am glad you made it through the process OP. To the other poster I am using Stonegate Mortgage Co. My rate is 3.25% instead of 3.875% VU was going to give me with a 680 mid score. The process is going great so far and they expect the closing to be done in 30 days instead of the 45 days my realtor said. I also had pre approvals from NFCU 3.375%, Wells Fargo 3.25%( without credit being pulled just told them my scores), and Suntrust 3.25%. I heard NFCU can be too slow processing everything and I am on a tight schedule. Wells Fargo just seemed too unorganized. It took me 4 calls to get to the right person and it didn't make since to use them due to the fact that I already had 2 other lenders (who pulled my credit) giving me 3.25%. Suntrust LO was great but, there fees were much more than Stonegate. I wish you the best with who ever you decide to use.

[USCGWife]

The loan just came out of deferment and was only reported as 30 days past due. But here is the kicker, the student loan lender incorrectly reported the loan as a collections account so the underwriter required the account to be paid in full. I had the student loan lender provide a letter that the account was current and was not/never in collections and basically there was a communication issue between them and me about when the loan came out of deferment. The underwriter didn't care and still required that we pay the account in full. 

[armywifelong03]

I have one late on a student loan back in 2007 but have almost paid same loan off since then.  All of my student loans are in deferment now as I am finishing up my teaching degree.  All of my loans are deferred until 6/2015 and I have letters stating this.  I hope these won't be a problem!