Okay so here is the breakdown:
Did my pre-approval on April 30th...was autoapproved at 200k 30 year homebuyers choice conventional loan.
After 7 houses put an offer in for one on 5/8....out bid by a cash buyer
moved on to see 25 more houses in less than 3 weeks.
On 5/28 previous offer came back, the cash buyer dropped out.
6/5 inspection was completed
6/18 appraisal was completed. We bid under what the house was worth (yay)
They asked for alot of paperwork, but nothing too ridiculous. Our mortgage officer is VERY unresponsive, so I have to stay on her and the processor.
Currently waiting on the closing disclosure which we need to have by THIS thursday to be in compliance with the 3 day rule....
Settlement slated for This Monday, July 15th! I am soooooo anxious
Me and dear husband both have pretty okay scores (mortgage middle score 690) and maybe 18% dti between us but a less than perfect profile. Our processor doesnt seem worried so i am trying not to be
I pre-qualed on 2/27 for 30 yr conv with an 825 mid-score. Looked at about 58 houses. I had no conditions or LOEs from the LO or UW. The toughest part was finding the house. There are a lot of cash buyers and a lot of sellers not willing to make needed repairs. The house I found had been on the market for 3 hours. I made an offer on 5/25, it was accepted on the 26th. Inspection on the 30th. Appraisal returned on 6/12. Closed on 6/25. I found my LO to be less than responsive when I had questions. The processor was only slightly better. There was only the one credit pull with the original app and I don't think they even verified employment.
I don't know if you're using the realty plus program, but the cash back from that is a nice little perk and my realtor was AWESOME.
Good luck to you!