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Financial advisor vent
DH and I got a mortgage preapproval a few months ago. It expired about 2 months later and the financial advisor at the bank called DH and told him it was expired. From what DH tells me, the guy told DH the new interest rate and then said, okay come see me when you have a purchase agreement for a house. Well now that we signed a contract for a house, DH calls the financial advisor who says we need to give him all our paperwork all over again. One of those pieces of paper is a letter that took DH 2 weeks to get last time so if it takes that long this time, we'll miss the deadline in our contract and miss out on the house. When it expired, he never told us we had to give him all the paperwork all over again and he didn't say anything about the amount we could spend going down. I suggested we try dealing with another advisor at the same bank, but DH thinks that even if we get one appointment with someone else, we'd still have to deal with the other guy after that. And now DH thinks we won't get the house.
Re: Financial advisor vent
I don't know much about this, but you also don't have to go through the same bank for your mortgage that you used for your pre-approval. You may want to look around at other options. However, they usually still need all of the same information.
Hopefully this all works out for you! Good luck!
Maybe things are different where you live but they did our preapproval over the phone. We gave them basic information and they gave us an amount. We went house shopping. We were never told of a time when our preapproval info expired.
Then once we found a house, we met at the bank and brought our pay check stubs and tax info, as well as proof of credit (i.e. past bills we've paid). In 30 minutes we were out of there. We closed 3 weeks later. Our process wasn't that bad. It took about 6-8 weeks from getting an offer accepted to getting a home inspection to getting the keys. But part of that is because in Indiana, unless specified otherwise, the seller has 30 days to turn the keys over after you close on the home.