Buying A Home
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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.
Underwriting
How long did the underwriting process take?
We were hoping to close on the 8th, but for some reason the lender says they're still working on some things and will know more when we probably can close after the papers are sent to underwriting. They say it may take about two weeks.
Does this sound reasonable?
I'm just quite frustrated, for some reason I feel like the lender is moving along slowly. We've been on this for a month and half. Waiting even longer is driving me crazy. We have to have our current place empty by April 1st for the new tenant though so we still have a bit of time.
Re: Underwriting
Our underwriting process took less than 3 days. It was 2 week from when we were under contract (after inspection and another round of negotiation) till closing.
We gave our lender date that we hoped to close on. They tried to meet that. And they did.
Wow! Now I'm even more frustrated, but with a glimmer of hope. The lender said that the underwriting will not get our file until 5 days after the lender sends the file to them. I have no idea what this means. Should I keep pushing them or just let it go and wait a couple more weeks?
The total process for closing took 1 month for us, we just closed yesterday! The loan was ready last wednesday. It may depend on wether you were pre-approved or pre-qualified. When you are pre-aproved most of the loan paper work is done already.
I work in an underwriting department. Realistically, it takes about a day to a day and a half to review your file, make a decision, have it proofed and re-proofed, decision typed and sent out.
That's assuming your file is the only one sitting on the underwriters desk. I'm sure it's not.
But, I'll also say that I overheard one underwriter on the phone yesterday for 45 minutes, scheduling an appointment to get her hair cut and colored at 3:30 this afternoon. So take that for what it's worth...
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