ARGH!!!
I have been calling, and calling, and calling, this mortgage guy for the past three weeks or so, since we met with him. First he told us that we lacked credit references, and that they were trying to work around the normal requirements, but he didn’t think we would have any problems. He asked us to write a couple of letters showing our ability to save cash, and why we have a lack of credit.
So we did, faxed em to him over two weeks ago. Waited a few days, called him, no answer,… left message. Next day, called him, no answer,… left message. A few days later, Called him, said he was out of the office for a few days, and that the underwriter was not in today, but he would have him/her look over our case tomorrow. Wait a couple days, call him again, no answer,.. left message. Call again the next day, he says he’s been busy working on another case that is closing in ten days, so he has not been able to take care of ours. This is semi-understandable, considering that our house wont be finished till November.
So another few days go by, and I call him today. He says, sorry, the underwriter has been out the past couple days, and I know I have been putting off your case, so I will go talk to him/her now, and I’ll call you back. At this point, I’m expecting to not hear back from him as usual, and figured, I’d call him back tomorrow to pester him some more.
I get a call about an hour later from him, saying that the underwriter spoke with thier most lenient lender, and that they would not approve us, due to the same reasons that he told us they were working around. He basicly tells me we need to establish more credit, and maintain it for a year, then they will approve us.
At this point I am completely pissed off, since he was leading me to believe that we would be approved, and would not find out otherwise, so that we could make other arangements. Now not only have we signed the contract on the house already, and it is being built to our specs, but we will also have to pay an additional $5000 at closing since they are the “prefered” lender for our builder, and have some sort of deal.
Basicly, we have about 2 weeks to find someone that will give us a loan, and come up with an extra 5k.
Who turned the stress switch back on?