New Contributor
hopeful23
Posts: 94
Registered: ‎06-29-2012
Re: Still Waiting for Preapproval

Wow...After reading this entire thread it makes me feel really uneasy about Wells Fargo. But on the upside, we are using a Wells Fargo LO that was recommended to us by our realtor and so far things have been great. He seems very helpful and we applied for the pre approval on Monday Sept 3rd. We were approved for the pre approval yesterday the 6th, and he faxed our realtor the pre approval this morning. He did not however send it through under writing yet. We are only using my husbands credit and income, the only thing is his dti is close to the max of 50% since we are only using his income, but we are paying off two more cards in the next two weeks so he wasn't worried about that at all since we are currently at 49%, and by paying off the two cards it'll put us around 47%. Plus, the 49% estimate is 10 thousand more then we are wanting to spend, so hopefully we don't have to go up that high. 

 

I hope it all continues to work out, we are going with a 203k FHA loan. Just put  our offer in on a house today. We will find out if it's accepted on Monday. Hopefully WF works out for us. Good luck to everyone!

Starting Scores: EQ – 492, TU – 508, EX – 507 (Lender pull March ’12)
Current Scores: EQ – 591 (FICO), TU – 623 (FICO), EX –623 (CS), CK - 621
Goal: 700+ AND no baddies!

Current Cards: NFCU $4000 CL, Cap One $300 CL (secured), Cap One $300 CL. & an NFCU car loan for $18,500