Update 8/7
7/18- processor attempted to clear conditions on initial review
7/24-back to UW for initial approval due to new credit pull required
- this was very frustrating as it took until 7/29 to get an update, which was an approval
7/29- Requested statements for proof of funds
7/31- sent to UW for CTC
8/1 (am) - request for MORE bank statements (was freaking out at this point!)
8/1 (pm) - rec’d clear to close email!!!
8/2 - rec’d initial closing disclosure
8/6- Closed! (Only took 20 min)
Overall my processor was extremely responsive, quite opposite of many reviews I read here about NFCU
My only two complaints about the process: I had to upload docs several times that I had already submitted. The UW process took much longer than my processor indicated.
I wish I had stressed much less than I did, but that’s a tough ask when coming off a rebuild!
**************original post below****
I’m so anxious now, so hoping that I document it will help others.
We applied for a loan on 4/1 with NFCU. It took a couple weeks to get our pre-qual.
Contract signed 6/29
NFCU docs signed 7/5 & conditional approval letter recieved.
Appraisal ordered 7/8, received & cleared by NFCU 7/17 (within a couple hours)
On 7/18 recieved additional conditions from initial review
Some of the conditions are frustrating as they requested several bank statements I had previously submitted via secure portal. Make sure you check with your processor to ensure things are recieved...may save you a headache
Two new conditions & one update:
-Credit needed to be re-run as it’s only valid 120 days & will expire right before closing
-Both dh and my employers process payroll from a different state so we both had to submit letters from employers stating we work in Texas. (Weird but no prob)
-I was also asked to provide a credit explanation on their form...I had previously sent and email. Had to explain inquiries from 120 days prior to original credit pull & BK.
My third party financing addendum expires this Wed, so I’m really anxious to get UW approval.
My concern is that dh still has a BK on his EQ. It’s reported as a discharged CH7 while we actually have a DC CH13. We’ve been unsuccessful in getting EQ to fix it. We are passed the 7 year mark from filing so all other CR are clean so it’s SUPER frustrating to have that EQ reporting inaccurately. I made mention of the CH13 on the credit explaination so I’m worried it’s going to cause an issue being reported wrong.
