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stressed first time buyer

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Anonymous
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stressed first time buyer

now i realize how stressfull is this processs.MY GOD!!!!

already did the inspection and the appraisal came up from 82k to 85k.

do the bank always ask for all the papers again, as bank statements and income, do they check the credit again or they just go for the score?

why  they asked for a month extension ?. I AM GETTING CRAZYYYYYY. HOPE THIS END SOON

Message 1 of 15
14 REPLIES 14
Anonymous
Not applicable

Re: stressed first time buyer

forgot to tell you that our closing day is in or before nov 30. hopefully they don't get later than that

Message 2 of 15
DallasLoanGuy
Super Contributor

Re: stressed first time buyer

if the lender has recent docs they wont want new ones.

 

here is the deal. if your bank statements or paystubs 'expire' then they will want new ones. they cantell by looking at the docs if you have new ones coming in the mail or whatever

 

soooooo, that means, if you get new ones... send them to your loan officer.

 

Retired Lender
Message 3 of 15
DallasLoanGuy
Super Contributor

Re: stressed first time buyer

"recent docs" has always been guideline. but the underwriters are watching this more closely these days

 

Retired Lender
Message 4 of 15
Anonymous
Not applicable

Re: stressed first time buyer

they are asking for the same papers my husband sent them about one month ago, another thing, they ask for a escrow, i think that is called, of 5k and they already cash the check, it is not supposed to be cash at closing?, why they ask for banks statements again if they have all the money we need, and also they gave us 5k for closing cost? in total they have 10k, why they keep asking for the last 2 bank statements (they need original papers from the bank, no online statements printout). i think this is to much, we are going crazy
Message 5 of 15
DallasLoanGuy
Super Contributor

Re: stressed first time buyer

they want to make sure that the $5k escrow was your money.... real simple.

 

your last message reads like 'they' gave you $5k for closing = who?

 

too much? no, it isnt too much. the loan officer just didnt collect the things they needed.... surprise, surprise

Retired Lender
Message 6 of 15
Anonymous
Not applicable

Re: stressed first time buyer

THE SELLER GAVE US THE CLOSING COST (5K), it's there something tricky or it is a common process?, the ac wasn;t working and the seller fixed it and we have a sold as is contract, so i thing this is a good help
Message 7 of 15
Anonymous
Not applicable

Re: stressed first time buyer

WHAT HAPPEN IF SOME NEGATIVES ACCOUNT ARE JUST REMOVED FROM EQ AND EX AND NOT FROM TU, WE ARE TWO WEEK AWAY FROM CLOSING
Message 8 of 15
BungalowMo
Senior Contributor

Re: stressed first time buyer


@Anonymous wrote:
WHAT HAPPEN IF SOME NEGATIVES ACCOUNT ARE JUST REMOVED FROM EQ AND EX AND NOT FROM TU, WE ARE TWO WEEK AWAY FROM CLOSING

Did this happen since your LO pulled your reports??  What were the negatives??

 

You might be able to get a rapid rescore if your scores have bumped up just enough to get you a better rate.  What were your scores from the LO??

BK 7 discharge 06.24.2020 No Fico score at all. Smiley Sad
Message 9 of 15
Anonymous
Not applicable

Re: stressed first time buyer

it is not the score, its negatives accounts showing in tu from bankruptcy, my ? is if fha say we can apply for loan after 2 years of the bkcy discharge, why the keep looking at the negative accounts if they know they will stay in credit for 7 years?
Message 10 of 15
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