Taking the Plunge

[DrJim]

Daily Update:

Received a call from WF today saying they received the application and will be in touch.

BB&T, after telling me they would call me back in 30 minutes, has not called back in 50 hours despite a second call from me.  I guess the mortgage business is so good they can afford to turn customers away.

The winner is NFCU.  A little more that 48 hours after meeting with them I had my pre-approval letter in hand.

Will be home shopping this weekend.

[Anonymous]

I'm telling ya... I've been working with Wells Fargo and although the people I've worked with has been great, this timing stuff is for the birds!!!!! First last week I talked to the loan officer after scrambling for 3 days to provide paperwork on Wednesday of last week we finally got all the sign documents to her... she sent everything over Thursday morning... she told us it would be 72hrs before we knew anything... (Worst weekend EVER) so come Monday of this week I was hoping to hear something... nothing... Finally Tuesday morning heard from the Processor... She told me she had sent everything to underwriting on Tuesday morning and it would be another 48 hrs till we heard from underwriting... So I talked to her again yesterday and she said we should hear something today... Now I have been waiting ALL day and my stomach is completely sick and it's getting to the end of the day and still nothing! I e-mail her again a little bit ago and she told me to hold on to hope that underwriting is looking at it now... This is just awful!

[Anonymous]

Congrats! Have fun shopping!

[DrJim]

Well, after three trips to Augusta to look at homes over the past 10 days we found our dream house yesterday.  We put an offer on it today, only to find out it already had an offer put on it today as well!  This house has only been on the market 3 days!  So we redid our offer and headed back to Atlanta.

10 minutes from home our agent called and. . . our offer has been accepted!

NFCU is granting $2,500 to closing costs, we used their RealtyPlus program for another $2,300, so we anticipate getting some of the $4K earnest money back at closing.  Closing date is set for May 31.  Now to get NFCU the signed contract and start with all the paperwork.  Luckily I know what is needed and have already been compiling it.  Should be able to get it all in by the end of this week or the beginning of next.

Pray it keeps going this smoothly!

[DrJim]

Sent a nastygram to WF my main banker last night.  Telling them exactly how they had dropped the ball.  Also called BB&T with whom I also have a relationship.

A reminder: NFCU gave me a preapproval letter 48 hours after I submitted the application.  100% financing (VA) with the origination fee rolled into the loan at 3.5%.  They will grant $2,500 at closing.  Used Realty Plus which will also grant $2,300.

Today my mortgage guy at WF called twice and emailed once asking to be considered.  I called him back and he says he can beat the deal.  He was heading back to the office and is going to call when he gets there.

We shall see.

Still no word from BB&T.  I'm really fighting the urge to email their CEO.  The girl was so clueless.  She kept saying "We don't do many VA loans at that level" and "I didn't know that".  She sounds like a high school student.  I'm a freakin' neophyte and I know the VA max in GA is $417K before going to Jumbo status.  She had no clue.

[Anonymous]

If we had better scores I would be doing the same thing about now...

[pizzadude]

I'll be shocked if WF comes back with better terms than Navy.  Their customer service certainly isn't up to par.....

[kjm79]

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@pizzadude wrote:

I'll be shocked if WF comes back with better terms than Navy.  Their customer service certainly isn't up to par.....

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+1 I'll be shocked too.  DrJim, sounds like things are moving right along for you!  That's fantastic!  Thanks for the updates, keep 'em coming.