Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 27
Registered: ‎05-30-2012
0

Will the anxiety ever end??

We have been preapproved through manual underwriting, picked our house, and are under contract. We are now going through all of the steps before closing (appraisal, underwriting again, etc). I am so anxious about the possibility that we could be denied after going through underwriting again that I am having a hard time sleeping and concentrating. I wish there was a way for them to just get it over with. Because our home is new construction, we are supposed to go pick out the carpet and granite for the countertops, but I don't even want to do that because I am so worried that I am getting my hopes up and getting attached to the house and it will all fall through. How do you get through all of the uncertainty? What do you think the chances are that we may be denied after being approved by underwriting once? I hate that something that should be an exciting and happy time is made miserable by all of the stress and anxiety I am feeling Smiley Sad

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Will the anxiety ever end??

Yes it will end with you having keys in your hand. With it being new construction you will have better options if something turns up on the appraisal or if it comes in low. Its a lot easier to ask for a price reduction from a builder than it is if you were buying from individual sellers. If you were dealing with individuals who are underwater; they may not be able to lower the price if the appraisal comes back low... as they don't have the financial resources to bridge the gap. Overall I think you are just going to be fine. Its comforting to know that they approved you as a borrower up front. That way you can feel confident knowing that your credit; income; cash reserves; and employment history are all adequate at this time.

Good luck!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Established Contributor
Posts: 619
Registered: ‎09-26-2011
0

Re: Will the anxiety ever end??

I feel your pain!  I take comfort in knowing that the LO and UW have already put a lot of work into the process and they don't get paid until I get my keys, so they must be pretty confident.  Unless something major happens on your credit between now and closing, you should be just fine. I've been comparing it to pregnancy and childbirth...lots of joy, mood swings, and pain, but in the end, a beautiful baby/home!

Starting Score: 10/1/2011 EQ 568 TU 593
Current Score: EQ 664 TU 700 EX 701 (FAKO)

Moderator Emeritus
Posts: 14,051
Registered: ‎04-15-2011
0

Re: Will the anxiety ever end??

When it's over you will feel the burden lifted.  Good luck in your new home.

 

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Member
Posts: 27
Registered: ‎05-30-2012
0

Re: Will the anxiety ever end??

I went and picked out our granite and carpet today. I am feeling a little less stressed. I have a meeting tomorrow with our LO to go over paperwork and documents and I am hoping that will give me a little more peace of mind. I just want my keys and to move in already!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.