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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

2 Thoughts on Worried about underwriting?
  1. Reply
    Pengy
    May 16, 2011 at 2:57 am

    The stress of buying a home especially when it is down to the wire. Nerve wracking I know just went through it 3 months ago. At closing seller had wrong copy of POA so was delayed a couple of days heart wrenching, but it all worked out, and it will work out for you just hang in there. and CONGRATULATIONS on the new home

  2. Reply
    Fort Sill Army Wife
    May 16, 2011 at 3:39 am

    we just closed on ours and i was the exact same way as you, just relax and breathe and soon you will be relaxing in your new home! Congrats

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