Mortgage Underwriting Stories…..buying a house sucks

posted 3 months ago in Home
Post # 19
Member
153 posts
Blushing bee
  • Wedding: May 2014

Our mortgage almost wasn’t approved because I was “new” to my job – aka I had been there less than two years – AND I had “taken time off” between jobs… a month-long vacation before starting the new job.

I had to write letters and sign them affirming the situation and that I wasn’t actually unemployed, etc. Then it still took them a bit of work to “go around” the “issue” and let them give us the mortgage.

Post # 20
Member
448 posts
Helper bee
  • Wedding: July 2017

For me, there are always a lot of little things that seem like a big deal at the time, but I have never had anything major ultimately go wrong. When we sold our last house, the buyers were very naive and refused to take advice from their agent, so that was frustrating but only ended up delaying us about 3 days (changing lenders a week into escrow, ignoring contingency deadlines, asking for $25k in “repairs” to replace the roof). When I bought my first house, it was a short sale and took about 6 months – both agents and I had to throw in some unexpected money at the end to pay off a lien, but we made it happen and it was still a screaming deal because the market had gone up during the 6 months! Anyway – for me this kind of thing is always stressful one way or another, but at the end it’s kind of a blur 🙂

Post # 21
Member
8057 posts
Bumble Beekeeper

You’re right, it’s not over till it’s over. Good luck!

Post # 23
Member
1113 posts
Bumble bee
  • Wedding: October 2016

We had a relatively easy home-buying process.. I hope yours is the same! I remember being so nervous that something would happen between the financing/paperwork or something crazy coming up on the inspection, but really it was rather boring. Meet with this person, bring this paperwork or form, write a check for this amount, meet here on this day/time, sign 8000 sheets of paper, and voila here are your keys! It took exactly 1 month from our offer being put in to our closing date. Fingers crossed for smooth sailing for you guys!!

 

ETA I had only been at my job at the time for 5 months when we applied, and Darling Husband at his for less than 2 years. They had no issue looking at our current jobs plus our previous employer’s info. Both were in the same or similar fields so that probably helped. I think they just want to make sure you aren’t bouncing around to random jobs every 6 months. 

Post # 25
Member
153 posts
Blushing bee
  • Wedding: May 2014

beevincent18 :  Hopefully not! They should let you know if it it might be an issue! Also, our mortgage lenders were FURIOUS that the underwriter was using that as a reason. My husband has been at his job nine years and makes a ton more than I do and our finances were in great shape. The lenders basically bent over backwards at the last minute and went through everything again using an in-house underwriter instead of another company to get us approved. It was stressful, but all worked out! 🙂 

Leave a comment


Find Amazing Vendors