I got a call this morning from my loan processor, and she informed me that I have my final loan approval! It felt like it took a long time, but in reality, I went to underwriting on July 15th. So glad the final approval is in....the only things needed now are the appraisal and my hazard insurance information. I know lots of people haven't had a pleasant NVR experience, but I must say, it's been fairly smooth for me (knock on wood, since it's not totally over!). I was all prepared to have to re-send suff, and it never happened. Let's just hope the smooth sailing continues until Ihave the keys in hand.
I agree - I've been somewhat surprised at how plesant my experience with NVR has been! It seems that each time I interact with them, they compliment me on my organization (I put everything in numbered folders with all of the documentation they need and send it electronically) so part of me wonders if that the people that have BAD experiences either a) have somewhat poor credit rating and would have trouble with ANY bank or b) aren't as organized, so they need to spend more time looking through paperwork/documentation.
ReplyDeleteEither way... I think it's been working out great so far, and was even thinking of posting a blog entry to focus on that!
-www.buildingwithryanhomes-parkplace.blogspot.com
Well, I think it is different from region to region and LO to LO. We did not have a pleasant experience with NVR. But it wasn't anything related to documentation and we have an excellent credit rating. It was just because of their customer service, I mean we received emails at 4.00pm to lock our rates by 3.30 pm! Also for us, they were not very competitive, their rate was been consistently high by .25% compared to any bank in our region.
DeleteBut I'm really glad that not everybody has to face such problem with them.
That's true - I think that especially with the housing bubble, getting loan approval has been a bit excessive. Actually, most of the documentation I've provided I've had to do more than once... but since I kept everything in organized folders / in pdf, it wasn't a huge deal to provide it a second time.
DeleteBut I agree - if they weren't competitive (or rather, didn't match a competitor's rates when I requested it) I probably wouldn't be as happy with them now as I am every other time.
I just appreciated them recognizing the fact that I was putting forth extra effort to try and make their job easier... so it helped to keep me in good spirits.
Based off some of the horror stories I've read, though, we definitely count ourselves as lucky that we had such a good experience.
Hey Stacey, it is DONE!! Just hoped you are packed and ready to go!
ReplyDeleteOur process was very interesting but it was part of the process so I don't have any complaints because we understood the dynamics of what was going on. We were supposed to move on a Friday and moved Tuesday instead. Pissed yes!! But than I calmed down and focused on the things that needed my attention.
So nice to see that you are on the home stretch!! There are just a few Savoys on the blog and I look forward to seeing your final pictures and interior design.
YAY! I'm glad everything was smooth so far and I hope that will continue till you get your keys!!
ReplyDeleteWOOHOO you go girl you are in there like swimwear!
ReplyDeleteyayy !! congrats ! we came to realize that going through the builder is probably the best thing you can do...no doubt their rates maybe a bit higher but they (more than anyone else besides yourself) want you to close.
ReplyDelete