kellybrown
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 01 Apr 2015
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advice please |
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Hey there! I wanted some advice. I'm a first time buyer and had my offer on a house through a mortgage broker( http://www.5yearmortgagerate.com/ ) . My broker had informed me on Wednesday that my mortgage had been accepted.I spoke to him today & I need to take with me tomorrow 3 months bank history and wage slips, and I was told that my application would go to the underwriter on Monday. Though my broker told me I'd been accepted could I still be declined by the underwriter? Little nervous so looking for a friendly advice. Thank you!
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Wed Apr 01, 2015 10:23 am |
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GardenCat
Full Member
Cash: $ 12.80
Posts: 63
Joined: 07 Dec 2014
Location: Colorado |
You are probably already through the process but...
The short answer is yes, an underwriter can deny to grant you the mortgage loan.
Typically you would need 2 years tax returns and W-2 statements, 2 months of bank statements and payroll documentation, documentation of assets available to that could be used to make payments - just to get started with a broker.
Seems strange to me that you are being asked at the last minute for payroll and bank info...
I hope it all went ok
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Thu Apr 16, 2015 9:17 pm |
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shreyaacharya
New Poster
Cash: $ 0.45
Posts: 2
Joined: 26 Mar 2015
Location: Bangalore |
Follow Best Rules |
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Its best you follow certain rules and do's n dont's before you leap to any conclusion.
Follow this steps and you would be good to go.
http://blog.bankbazaar.com/10-tips-for-a-smooth-home-buying-experience/
Still confused then directly contact banks where you are mortgaging your property.
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Mon Apr 20, 2015 6:22 am |
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Offshore-Wealth.com
Senior Member
Cash: $ 14.80
Posts: 601
Joined: 20 Jul 2005
Location: FREEDOMLAND |
Re: advice please |
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quote: Originally posted by kellybrown Hey there! I wanted some advice. I'm a first time buyer and had my offer on a house through a mortgage broker( http://www.5yearmortgagerate.com/ ) . My broker had informed me on Wednesday that my mortgage had been accepted.I spoke to him today & I need to take with me tomorrow 3 months bank history and wage slips, and I was told that my application would go to the underwriter on Monday. Though my broker told me I'd been accepted could I still be declined by the underwriter? Little nervous so looking for a friendly advice. Thank you!
Mortgage brokers try to lock you in, so they will tell you that you are approved, but in reality, it is only a pre-approval based on your credit FICO and income stated, but underwriters have the final word for they document what you had stated on application. In most cases, not an issue, but underwriters are a lot more careful these days having burned the mortgage industry preceeding collapse.
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Sat May 02, 2015 6:04 pm |
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nikhil vig
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Location: B-300 saraswati vihar New delhi |
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Wed Jul 19, 2017 12:06 pm |
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richardbaker
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Joined: 14 Dec 2017
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Okay...
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Thu Dec 14, 2017 9:07 am |
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