Skip to main content

Mortgage process is exhausting and nerve racking....

Hi all, after getting outbid 4 times, I finally got an offer accepted. Getting pre-approved was easy, took maybe 2 hrs. However, this whole mortgage process has been nerve wracking and I constantly think about things that could go wrong.

I’ve already paid for an inspection and waiting for the mortgage company to order an appraisal. The company requested typical W2s and account statements...etc.

I got an email saying that I was approved with condition today and now they want a things like letter of explanation for my income, my credit card statement and something that says my balance is $0, and funds source and other things.

All these requirements are making me very nervous and uneasy. My closing date is scheduled March 13 because the seller needed time to find a place to stay. I truly think I’ll drive myself crazy.

I think of so many things that could go wrong..... Let’s say if they approve me for an mortgage. Can they change their mind right before the closing date? What if they don’t approve me at all? Am I going to lose my earnest money and almost $1000 that I spent on inspection and appraisal?

I am so sorry that the post is so long. Just wanted to talk to somebody. Is this supposed to be this hard? 😢

submitted by /u/bearsschrutebeets
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/l8b1r3/mortgage_process_is_exhausting_and_nerve_racking/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

How to get started?

Hi! I’m 23F and I just graduated college with an english degree (😅) but i’ve been working in nonprofits since I was 16 and lucked into an amazing first job with an one of the biggest and best real estate non-profits! I love my job so far, but it’s my first time being surrounded by such wealth (and very hard working, deserving individuals.) To be quite honest, I‘ve had a rough few years juggling multiple jobs to finish school, and the idea of myself not living paycheck to paycheck seems light years away. This is all being said, I guess I’m posing the question towards the group of what I can do now to start building that kind of future for myself. I find real estate very interesting, and i’ve loved learning about all the machinations behind development- I’m just not sure where to begin within the industry (investment/rentals are definitely not an option for me yet). I’m also looking to go back to school, but being that I don’t know where to start, I wouldn’t like to begin classes aga...
Post a Comment
Read more