Buying A Home
Dear Community,

Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.

If you have questions about this, please email help@theknot.com.

Thank you.

Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.

Changing lenders at the last second

Can we di this? I am very unhappy with our lenders. They have lost our paper work, told us they had our paper work, but then three days later called to say they never received it, after they confirmed that they did. And last night she said she was working on our paper work, and would email me papers that I need to sign within the hours. It's been over 12 hours :/ I am just very fed up at this point! All we are waiting on is our loan, and they haven't even processed the paper work because they never sent us new paperwork to sign.

Re: Changing lenders at the last second

  • I would talk to your Realtor about this. I'm pretty sure you can, but each lender is different and they might loan you a different amount, which might mess with buying the home if the amount they'll loan you is less...
  • We had to change lenders. We originally got pre approved through a local credit union. We submited an offer on that preapproval. When we came back with the signed contract to start the loan process they decided not to do the loan due to the fact that it was a mobile title company not one of the local title companies. Plus the guy that originally preapproved us had left. We ended up going to the place where he was now working. He knew us and pushed the paper work through. They were able to get everything done in time for closing.

     

    I would not recommend changing, but sometimes you just have to. I would go somewhere else with all your paperwork and updated pay stubs and all that jazz and see what they say. Or see if you could have a new loan officer. It sounds like that particular loan officer has dropped the ball. Changing lenders might delay your closing.

    Daisypath Anniversary tickers
  • I emailed our loan paper work to my realtor to just look over and get her professional opinion. Looking over the paper work (that they finally sent after I contacted them) they are still charging us an appraisal fee when I told them over the phone yesterday that the whole complex is already VA approved. Plus, you can't get a VA loan for a condo unless the whole complex is VA approved prior. I feel that they lied and that they have not done a plethora of VA loans as they claimed.
  • The more you share the more you need to find someone else. Changing may make closing delayed a bit.

    Do you have in mind another lender? Start talking with them.

    Daisypath Anniversary tickers
  • This sounds like a complete nightmare--considering buying a home alone is stressful enough, this is awful to have to deal with. Your realtor may have some contacts she can refer you to, so you may want to ask her. H and I are working with Veterans United and they have been great to work with--we've even been able to sign many things electronically. They are not local to us but we've been able to do everything via email or UPS (if they need original signatures), and getting in touch with them has always been easy. We've been working with the same 2 people the whole time and our realtor speaks to them regularly as well.
    imageimage
  • We did not change lenders. We felt like we were too far in. Our realtor does everything electronically, but our lenders do not.  They still do not get our faxes....but they said that they have everything, so lets hope they do this time.

Sign In or Register to comment.
Choose Another Board
Search Boards