home loan underwriter
Am I the only one waiting forever for her FHA home loan to be approved ?
Hello All,
I was pre-approved for a home loan, I did some looking and now have the house I want. 30 days later my Mtg Loan is still sitting on an underwriters desk… is this happening to everyone?
Is there anything I can do to speed up the process? .. I am really afraid of the seller taking away the house. =0(
Thanks in advance!
Sounds like you have an incompetent Realtor as well as a Loan Officer.
Call your LO and ask what is taking so long and tell him to e-mail you a list of EXACTLY what you need.
Once you have all of your requested docs in and the title and appraisal are back, you should have been able to close in 48 hours.
You are probably dealing with a mortgage broker that isn’t that familiar with FHA loans…which is why they are taking so long
FHA loans take no more time to underwrite than any other type of loan.
PS: FHA loans are NOT a long process….just like anything else, when you are dealing with people in the lending industry that don’t know how to put a deal together, then anything will take longer.
This adds to the myth that FHA are difficult loans, and they are not–to those of us that know how they work.
