Buying A Home
harpjolie
member
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.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
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.
How long for mortgage approval process?
After spending the last 2 years looking at over 50 houses, unsuccessfully extending 5 offers, plus an accepted offer that was followed by some problems after inspection; we finally had an offer accepted on a home and had a successful inspection! Now all that's left is the tough part, the mortgage approval.
I know this might take a while, but i was wondering how much did it take some you guys to get through the mortgage approval process? Any unexpected problems you encountered?
Re: How long for mortgage approval process?
The faster you get all of your paper work sent in (bank statements, tax statements, loan application, etc., and sign a nice stack of paperwork), the faster they can process your loan.
The thing that took longer that I anticipated was our homeowners insurance. It took us a while to get quotes because the seller had to resolve a problem with the roof's windstorm certificate that he didn't know about. Once we received our quotes and picked a company, the one that we chose wanted to inspect the house before giving us the insurance binder - which took a week. Some companies will provide you with a binder within 24 hours, and then inspect the house after closing. After we gave the insurance binder to our lender, they needed another week to process that part of the application, and it caused our closing to be delayed.
Make sure you have copies of all pertinent documents at the ready, if you haven't already provided them. Our lender needed a couple years of W-2's each, recent pay stubs, two months bank records from each bank account listed as an asset, 401k statements, insurance policies and tax records on our rental property, etc. etc. And even after providing the initial packet of documents they were looking for there were follow up requests throughout the process.
The longer it takes you to provide requested paperwork to them the longer it will take them to process your mortgage.