I could use some advice/vibes. My husband and I are trying to buy our first home. It is an "express delivery" home through a builder, it was built by someone who backed out, and has sat empty for about 8 months since its completion. We found it online, went to see it, were pre-approved for a loan, and then went into contract the next day.
We had filled out a pre-qualification online...using both of our incomes. We found out when we met with the salesperson to do a pre-qual after seeing the house, that we can not use my income as I work from home and have had the job less then 2 years, so we filled it out again with just my husbands information. When the salesman contacted the loan officer, she just pulled our original paperwork and pre-approved us based on that...our dual incomes. We discussed this when we went into contract but the salesperson didn't seem to think it would be an issue.
The loan officer contacted my husband a few days later asking about the difference in incomes and we explained it to her. She needed copies of paystubs, income verification, tax info...all kinds of things from him. He sent them all as of 2.5 weeks ago. On 3/8 they were supposed to re-run his credit. When we went into pre-approval, my husband still had a couple bad spots on his credit report from identity theft a few years back. He cleared that up in early/mid Feb and they wanted to run credit in March to make sure it went up (he has credit monitering online and it did go up) and get us our final interest rate and final approval. Well they never ran his credit.
We contacted the mortage person, no response. Contacted the builders salesperson we were working with and he was supposed to get in touch with the mortgage person.
This was on 3/10. On 3/15 I contacted our realtor and asked if she knew anything because we were pretty much in the dark. She wrote that as far as she knew, we were still closing on 3/28 as set up when we signed contracts, and she would find out if anything has changed and let us know. Still have not heard from her again. I emailed the builders salesperson again this morning asking if he had found anything out, or if he knows if the closing date has changed. We discussed on the day we signed contracts that we would have an inspection and a walk through before closing. I know he said the walk through would be right before closing but I don't remember them saying when an inspection should be. From what we found online, inspection should have taken place within a couple weeks of contract signing.
I am getting concerned. At this point, DH thinks we basically just didn't get approved on the house and they are giving us the run around. I would think that if we didn't get approved they would have told us as soon as it happened?
Has anyone bought a new home from a builder and know how the process works with inspections and anything? I am waiting to hear back from both the salesperson with the builder and our realtor, and DH is going to call the loan person after work today again...I am just stressed and trying to stay positive since he is freaking out about it and worrying that every little thing means we aren't getting the house. So if anyone had any advice or has been through the process and can tell me if this is normal....please let me know. Would they tell us if we weren't getting the house or would they keep waiting??
Does the realtor schedule the inspection, do we, or does the builder?? I know the builder salesperson said he does the walk through with us, and the realtor goes to closing but I can't get an answer from anyone about what is actually going on and when we get all of this out of the way....
We had filled out a pre-qualification online...using both of our incomes. We found out when we met with the salesperson to do a pre-qual after seeing the house, that we can not use my income as I work from home and have had the job less then 2 years, so we filled it out again with just my husbands information. When the salesman contacted the loan officer, she just pulled our original paperwork and pre-approved us based on that...our dual incomes. We discussed this when we went into contract but the salesperson didn't seem to think it would be an issue.
The loan officer contacted my husband a few days later asking about the difference in incomes and we explained it to her. She needed copies of paystubs, income verification, tax info...all kinds of things from him. He sent them all as of 2.5 weeks ago. On 3/8 they were supposed to re-run his credit. When we went into pre-approval, my husband still had a couple bad spots on his credit report from identity theft a few years back. He cleared that up in early/mid Feb and they wanted to run credit in March to make sure it went up (he has credit monitering online and it did go up) and get us our final interest rate and final approval. Well they never ran his credit.
We contacted the mortage person, no response. Contacted the builders salesperson we were working with and he was supposed to get in touch with the mortgage person.
This was on 3/10. On 3/15 I contacted our realtor and asked if she knew anything because we were pretty much in the dark. She wrote that as far as she knew, we were still closing on 3/28 as set up when we signed contracts, and she would find out if anything has changed and let us know. Still have not heard from her again. I emailed the builders salesperson again this morning asking if he had found anything out, or if he knows if the closing date has changed. We discussed on the day we signed contracts that we would have an inspection and a walk through before closing. I know he said the walk through would be right before closing but I don't remember them saying when an inspection should be. From what we found online, inspection should have taken place within a couple weeks of contract signing.
I am getting concerned. At this point, DH thinks we basically just didn't get approved on the house and they are giving us the run around. I would think that if we didn't get approved they would have told us as soon as it happened?
Has anyone bought a new home from a builder and know how the process works with inspections and anything? I am waiting to hear back from both the salesperson with the builder and our realtor, and DH is going to call the loan person after work today again...I am just stressed and trying to stay positive since he is freaking out about it and worrying that every little thing means we aren't getting the house. So if anyone had any advice or has been through the process and can tell me if this is normal....please let me know. Would they tell us if we weren't getting the house or would they keep waiting??
Does the realtor schedule the inspection, do we, or does the builder?? I know the builder salesperson said he does the walk through with us, and the realtor goes to closing but I can't get an answer from anyone about what is actually going on and when we get all of this out of the way....