Getting a mortgage loan these days is insane. It is extremely time consuming and you sign a never ending pile of mortgage documents. To make matters worse, i'm going with a 30-year fixed FHA mortgage, and underwriting is extremely...... thorough.
Easy Street is CLOSED. Lenders are extremely cautious and scrutinize everything! The days of 100% financing are gone. You need good credit, a perfect record, lots of disposable income, and a down payment. Period. It doesn't matter if you go conventional or FHA. Your ass better be clean, and wipe regularly. Even after being pre-approved, I am still signing documents and faxing bank statements. Anybody successfully acquiring a home loan in this market is extremely diligent. I have often wondered during this process how long it would take before I lost my mind and jammed a pen (probably the one i'm using to sign all the paperwork) in to my head. I'm sure I would be viewed as a more qualified borrower if I signed in blood.
I will be so happy when this is all said and done. I just want my house. I want the house for my family. I will look back at this moment and feel fortunate some other poor sap is going through hell, and not me. It has been an exciting experience, but i'm ready to sit down and drink a beer.
Ok, beer... and i'll invite JACK.
Who's with me?
1 comment:
Monday love, Monday. We'll be all done and we can start moving into OUR new home. You have worked so hard and done so much, thank you. I truly appreciate all that you do for our family. I love you :)
Post a Comment