Ok guys, here's the scanario:
We have met with our lender who gathered ALL of our documents (tax returns, pay stubs, bank statements,ect) and we filled out the mortgage application. We also gave her letters of explanations for some old negatives that have been paid. We furnished proof for every large deposit in our bank acct for the last few months and at the end of that meeting she said ok guys, it should take about 4-5 days and I'll get back to you.
Ok so its been 4-5 days and I'm expecting a pre approval letter and when I contacted her she said "I'm gonna send your realtor a pre qual letter so you guys can start looking and you should be ok to look in the range of the $130's"
So today we are meeting with our realtor and I feel a bit unarmed and unprepared. I would feel so much better with a pre APPROVAL letter. Isn't that why she collected all of that info from us?
I emailed her again this morning asking her if she could email me a letter or something so I could see where we are and how we stand and she emailed me back saying, " I can send you some payments for different price ranges so you know about what you want to look at".
Am I missing something?? What was the purpose of her getting all of that info from us and filling out the application?
THX!
Michelle
