We were pre-approved, found a house, had the offer accepted,gave earnest money,secured home owners insurance, had the appraisal which came back fine,had the inspection, had our verfication of employment, verification of bank,title work was ordered, and it was sent to underwriting yesterday. We are uing a mortgage company and are working with the branch manager, both her and the loan processor said we are approved and not to worry about it and that their loans are locally processed, underwritten, and closed by their company. They also told us that they only pull credit and verify everything once. Is this true? I thought the underwriters had to do that, or is every mortgage company different?i have heard it can fall through in underwriting. What are the chances of this?
we havent used our credit for anything or tried opening up new accounts