Monday, June 17, 2013

Everything except a DNA sample

This morning, we officially completed our loan application and applied for our mortgage with NVR. It felt like we were signing our life away. All they needed to ask for next was a DNA sample and the big brother investigation would have been complete!

All in all, the process went very smoothly. Our loan officer had all our paperwork ready and places we needed to sign highlighted in yellow. The process took about 1.5 hours, and even though we had already turned in every piece of paperwork they requested ahead of time, we still left there with 4 homework items to complete before the loan can go to underwriting.

My suggestion:

-Definitely make sure all your paperwork is in order BEFORE this meeting
-Be prepared to still have to show proof of some outstanding items. We had some checks that were deposited and one of our homework items is to show a copy of the actual check to make sure everything's on the up and up.
-Be sure to ask what monies you need to bring to this appointment. We had to write a check there for our appraisal and credit report fees but we had called our loan officer upfront to know how much that was going to be.
-Ask lots of questions! If you don't understand something about the process or what you're signing, ASK! It's your loan officer's job to make sure you're understanding the paperwork you're signing.

Now it's just hurry up and wait. Our loan officer told us not to expect to hear anything for about a month since they were swamped with closings this month. We hope to break ground around the beginning of August if everything goes smoothly (hopefully before new baby boy arrives!).