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Moving along in the process...
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HeatherO
LIF Zygote
Member since 1/09 10 total posts
Name:
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Moving along in the process...
Yay! We got pre-approved for a mortgage today at a great rate. We haven't put a bid in on a house yet, so obviously it's not possible to lock in the rate, which I'm terrified is going to go up. We're considering putting a bid in this week on a house that we really love, but needs major work. I'm giving you all TMI for my question, which is actually this....
Has anyone ever been pre-approved, but then denied for the actual mortgage when the time comes? It's like I'm scared to let myself get excited, I'm waiting for something to go wrong.
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Posted 1/28/09 9:39 PM  |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Moving along in the process...
It didn't happen to us (yet...), but when we signed the contracts last week, our lawyer said it is happening often now. The preapproval is not that in-depth, so it's when it goes to the underwriter is the true test. Our lawyer is nervous that we will get turned down at that point because we didn't sell our condo before we went to contract for our house.
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| Posted 1/28/09 9:41 PM |
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HeatherO
LIF Zygote
Member since 1/09 10 total posts
Name:
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Re: Moving along in the process...
Good grief! Why does this process have to be so daunting?
Good luck to you.
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| Posted 1/28/09 9:47 PM |
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Re: Moving along in the process...
It didnt happen to us, but BOYYYYYYYYY did they not make it easy...additional paperwork GALORE...good luck!
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| Posted 1/29/09 4:38 PM |
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