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Wells Fargo FHA pre-approval

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phumanr
Frequent Contributor

Wells Fargo FHA pre-approval

All,

 

I applied for a Wells Fargo FHA preaproval on Thursday, 8/16. She checked credit and said that I hit the qualifications for FHA (mid score of 607). Took the remaining application. I signed Loan application and FHA documents and sent them back to her. She gave me a pre qualification amount and interest rate. She said that it takes a few days for the pre-approval since they are back logged.

 

Does this mean it is going to UW for a pre-approval? Any one with a similar situation? I hate this waiting.

 

Thanks,

Phumanr

Message 1 of 11
10 REPLIES 10
Hammer23
Frequent Contributor

Re: Wells Fargo FHA pre-approval

Yes, you are waiting on Underwriting for Pre Approval

 

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Message 2 of 11
rightcoast
Frequent Contributor

Re: Wells Fargo FHA pre-approval

What happened with this? Thanks im in your same boat..


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 3 of 11
beb86
Valued Contributor

Re: Wells Fargo FHA pre-approval

Best best is to start a new thread with your situation but since were already here (lol) where is your boat? early stages, pre-qual?, pre-approval?

Message 4 of 11
phumanr
Frequent Contributor

Re: Wells Fargo FHA pre-approval

Hello;
I was denied with wells fargo but closed on a new build on 12/31 with academy mortgage. My mid score had to go to 640.

Best of luck,
Phumanr
Message 5 of 11
MovingForward_2012
Valued Contributor

Re: Wells Fargo FHA pre-approval

That is what I was wondering as your score of 607 was pretty low. I am glad that you were able to find another lender. Best of luck to you.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 6 of 11
JM-AM
Valued Contributor

Re: Wells Fargo FHA pre-approval

Congrats
Good Luck
May all your dreams and wishes become a reality!
Message 7 of 11
rightcoast
Frequent Contributor

Re: Wells Fargo FHA pre-approval

Awesome! Congrats and Thank you for your response. I am beginning to look to Pre-Qual with DCU with an FHA loan. I was told DCU was the best credit union to go with besides USAA and NFCU. I have a 10% down and bank with Wells Fargo but am looking to make a switch to a Credit Union that is more forgiving to first time home buyers


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 8 of 11
rightcoast
Frequent Contributor

Re: Wells Fargo FHA pre-approval

Or pre-approve through DCU if you will. I heard Amerisave had go rates too? I also heard its best to go with a broker who can get multiple lendors with just one hard pull. I figured I would try DCU first if not, go with a broker


Starting Score: 530 (EQ) 03-2012
Current Score: 678 (TU) myFico 04-2013, 649 (EQ myFico
Goal Score: 720+

Wallet: Wells Fargo Secured- 400 CL, Capital One Secured- 250 CL, Credit One Unsecured- 300 CL
Message 9 of 11
phumanr
Frequent Contributor

Re: Wells Fargo FHA pre-approval

I was very fortunate to get 3.375 with my credit problems....best of luck to you. A broker may be a good option to shop around on your behalf.

Phumanr
Message 10 of 11
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