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Hearthstone Homes- Underwriting Question
So we did it! DH and I have decided to buy a quick move in home through Hearthstone. We were preapproved for exactly what we asked for (we knew what we were comfortable spending and didn't ask for anything above that). We also got a great interest rate. So, we are signing our final underwriting paperwork tomorrow for an FHA loan.
For those of you who used metlife for your home lender with Hearthstone Homes. Was your underwriting a hassle? Did they come back and ask for a lot more documentation? How long did it take for you to get your approval/denial back? Did anyone participate in the NIFA program? Did you have issues with that at all?
I don't know why but I am so nervous about this process. I can't imagine waiting another week or two weeks to hear for sure.
Any guidance is helpful. Thanks!
Re: Hearthstone Homes- Underwriting Question
Frankly, you're nervous b/c there are so many dramatic TV shows and horror stories on The Nest about this crap. I kept waiting for some big last minute shoe drop regarding our mortgage approval, but it never happened. We had to submit some bank papers and explain anything out of the ordinary on our credit. (I had a late payment 5 years prior due to moving and missing the bill and I had to write up an explanation) and that was about it.
I think I made DH crazy b/c I was looking for drama through this process and it never happened. Just be prepared to go through a bunch of your papers and have all of your ducks in a row. I about lost it when I didn't hear back from the guy for over a week, only to find out he'd been out of town. (Though it did kind of stink that he didn't have an outgoing message letting people know he'd be out of town or have someone else responding to messages)
We didn't do the NIFA program, so I'm not sure about that. Honestly, buying our house was way easier than I expected.
Thanks. I'm sure you're right about why I am so nervous. Hearing your experiences makes me feel better about the process. As far as I know we have everything in order so there shouldn't be any issues, but you do hear horror stories.
Thanks!