Reply
Contributor
roshan
Posts: 84
Registered: ‎01-22-2008
0

wellsfargo processing time

[ Edited ]

Good morning friends

 

I am finally in contract for a home and under AR for 3 days. Doing home inspection this friday.

 

And thinking of going with wellsfargo mortgage because all lender's rate in my area is same. 4% with 0 point.

 

WF is waiving all bank fee for me. 

 

And most important my WF LO told me he can close my mortgage in 30 days. 

 

I need to close by March 30 as my current lease is expiring on that day.

 

So if you have any past experience with wellsfargo  and their processing time line than please share that with me.

 

I have submitted all documents which he asked for yesterday. He said he will send everything to Under Writer today and he can get me Conditional Commitment letter by next week.

 

All sound too good to be true.. But he is very confident about it.

 

So can Wells Frago give me clear to close in 30 days?

 

My background:

credit score:  775  All clean no issues.

one care loan: $450 per month  

No other debt.

incoming:  80K per year

 

all Debt to income: 43%  (including home loan,tax,insurance and car loan)

 

WF said they can do loan till 45% debt to income.

 

 

 

 

 

Established Contributor
namvet
Posts: 866
Registered: ‎09-22-2011
0

Re: wellsfargo processing time


roshan wrote:

Good morning friends

 

I am finally in contract for a home and under AR for 3 days. Doing home inspection this friday.

 

And thinking of going with wellsfargo mortgage because all lender's rate in my area is same. 4% with 0 point.

 

WF is waiving all bank fee for me. 

 

And most important my WF LO told me he can close my mortgage in 30 days. 

 

I need to close by March 30 as my current lease is expiring on that day.

 

So if you have any past experience with wellsfargo  and their processing time line than please share that with me.

 

I have submitted all documents which he asked for yesterday. He said he will send everything to Under Writer today and he can get me Conditional Commitment letter by next week.

 

All sound too good to be true.. But he is very confident about it.

 

So can Wells Frago give me clear to close in 30 days?

 

My background:

credit score:  775  All clean no issues.

one care loan: $450 per month  

No other debt.

incoming:  80K per year

 

all Debt to income: 43%  (including home loan,tax,insurance and car loan)

 

WF said they can do loan till 45% debt to income.

 

 

 

 

 Yes! 


 

Regular Contributor
StrateUp
Posts: 233
Registered: ‎02-02-2012
0

Re: wellsfargo processing time

We sound like we have simular circumstances. Wells is looking good for me and I certainly want to close in 30 days.

Good luck. I'll be watching this thread as I'm about 10 days behind you.

Contributor
roshan
Posts: 84
Registered: ‎01-22-2008
0

Re: wellsfargo processing time

That will be good

 

I just finished our Attorney review yesterday. 

Doing Home inspection today afternoon. Let's see how it goes..

 

Still waiting for GFE from WF which my LO said i should get it in 3 days from application in paper Mail at my home...

So may be today..

 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+