We just set up an appointment with NVR for Wednesday. She emailed us a list of all the documents required to apply for the loan.. the list is outrageous and it almost seems impossible to gather all of these items by Wednesday, or at all... What were your experiences like with NVR? Did you actually need your past two years of taxes, and ALL of the other 25 items on the list?
We're really starting to consider just going with our other mortgage approval.. but that would mean putting down a lower down payment and paying for the morning room out of pocket. The morning room is currently an incentive for using Ryan Homes mortgage company.. hmm.
Yes, you do need everything before they will send your loan to underwriting. Actually, we didn't have the tax returns and they were ok with that because they have to order tax transcripts anyway. But the rest is required. My experience with NVR has not been terrible so far but I have seen things that cause a lot of concern and I know I am going to have to be on them constantly and double check everything to make sure everything goes through correctly and on time.
ReplyDeleteLike you, we already had approval from another lender, and tried hard to get Ryan to let us go with them, but they said that the only way we could not use NVR (and still get the incentives and closing help) was if we applied with NVR and they denied us. But I think I have heard of someone who used their own lender and got the incentives, so it's always worth a try - worst they can say is no, right?
What exactly is the "bank statements with ALL pages showing deposit checks clearing the account" .... is that just my bank statements?
Deletenevermind, I'm assuming I just need my last two months bank statements and I'll be fine.
DeleteCongrats on your purchase!! I'm in the beginning stages as well - have not set up the NVR appointment quite yet, but am certainly quite fretful. Lol. A list of 25 documents? Oh boy. Good luck with your appointment!!!
ReplyDeleteHappy building! I'm from the DC/Northern VA area.. so sort of near you! :-)
Delete