Pre Approval: Decisions Decisions and Clock Watching

As I mentioned in the previous post, we had originally wanted to buy a house and move in early June, so that I would be done with school, but for tax reasons, we bumped up the goal date to April 15. F it right? I know that because of our budget, whatever house we buy is going to require some loving attention and updates. So, whatever, Ill move stressfully during the my semester so that I can have more of the summer updating my house (DIY heart of mine be still!!).

So, I started sending out paperwork right after New Year's for preapproval. It hurts my heart a little to keep seeing my credit score take small dings because of all the credit checks, but if there is anything that is important to shop around for its a mortgage right? Due to the location we were originally looking at, we were going to go with a lender that offered 0% down. But that house got sold and our other target areas were not eligible for that loan. So far I had really enjoyed my experience with that lender. She does offer another conventional loan that is only 3% down, better than the FHA 3.5% down, but that loan limits the amount that we can ask the seller to help for closing costs. This means that we would have to bring more money to closing day. Unfortunately, this lender doesn't offer any government backed loans like FHA or USDA.

Next, we got a preapproval from another lender that does FHA & USDA. But I felt like I was always playing phone tag with her. I also asked her some questions about my student loans and tax payment plans and she at first didn't know the answer and then gave me an answer that was different that what the previous lender and basically all of my research said. The amount needed to close for this would have been more forgiving, but I just am NOT jiving with this loan officer.

So, because I still wanted options, I am waiting to hear from a final lender. This lender handles many loans for PHFA, which is kind of like FHA but specific to the state of PA. They deal with multiple loan type, conventional loans with low money down, FHA, and others. They also deal with a secondary loans you can take out to help pay for closing costs. Now THAT I can work with. I contacted them last week, but they have been super busy. He did however, call me today, on a Saturday to get more info needed for a preapproval. He said he would try to work through the weekend and would have something for me by Monday the latest. Now that is customer service.

So I am just waiting for that. Waiting sucks. Waiting is horrible. I am anxious and spend my time on Pinterest pinning things for my future house. I need to go do my homework and study, but I am so distracted. I know the rest of the loan process is ten times worse than this. Waiting and waiting. Somebody help me.

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