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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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So we got our mortgage commitment letter
And the only thing they're asking for is proof of insurance and flood...Is this too good to be true?!!?!!?!?! If this is the case, this was really really easy and I'd recommend Wells and the person we're dealing with to anyone...
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Posted 9/21/10 6:56 PM  |
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Prudential Douglas Elliman Real Estate
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: So we got our mortgage commitment letter
 Only the beginning girl... dont let that fool ya  I worked with WF as well and they put us through the ringer up until we got word of our closing date... just have patience... it's soo worth having a home to call your own 
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| Posted 9/21/10 6:59 PM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: So we got our mortgage commitment letter
Posted by MaZz
Only the beginning girl... dont let that fool ya I worked with WF as well and they put us through the ringer up until we got word of our closing date... just have patience... it's soo worth having a home to call your own
UGH!!! I totally thought we were in the clear..
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| Posted 9/21/10 7:21 PM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: So we got our mortgage commitment letter
Wells fargo TORTURED us lol
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| Posted 9/21/10 9:42 PM |
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Denisemang
LIF Adult
Member since 5/05 982 total posts
Name:
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Re: So we got our mortgage commitment letter
Wells Fargo TORTURED us too.. Don't be fooled, they ARE HORRIBLE.. Sorry.. :(
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| Posted 9/21/10 10:36 PM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: So we got our mortgage commitment letter
oh we are waiting for our letter from wells fargo. when we bought our apt. a few years ago, once we got the commitment letter they just needed one more pay statement from us. Hope it's just as easy this time.
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| Posted 9/21/10 10:54 PM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: So we got our mortgage commitment letter
thanks ladies..our lawyer knows the person we're dealing with at the bank for the mortgage and they told her that this is basically it, once we satisfy that and updated financials they will not need anything else...so I'm crossing my fingers that they're not lying to our lawyer since they've worked togther many times in the past
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| Posted 9/22/10 8:04 AM |
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Denisemang
LIF Adult
Member since 5/05 982 total posts
Name:
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Re: So we got our mortgage commitment letter
No, they are lying to your lawyer. I am so sorry to be a downer.. We just went through this.. We went with Wells because our lawyer said we had to because there were some open CO's with the house and no other bank would close us if the CO's were not completed in time. Which they were. We paid a higher percentage and we REALLY wanted to go with the credit union. Who still has the lowest rates around.. Anyway, every day was something else. They had me crying all the time, it was horrible. They wanted this and that and to talk to my husbands job, numerous times, no call backs, treated us just horribly.. I mean it could have just been the mortgage guy we used, but he was horrible.. His assistant was horrible. We were told the last minute we were not getting the loan, then oh we are.. Horrible. We didn't think we were going to be able to close.. Everyone I talk said the same thing happens to them. Just wait till it gets closer to closing.. They WILL want more, trust me.. Who are you dealing with at Wells? Now, for the positvie, we did close and we are very happy in our new home! :) If I can be of ANY more help, please let me know...
Denise
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| Posted 9/22/10 9:17 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: So we got our mortgage commitment letter
thats who I used and it was that easy for me too!!!
ETA- they did ask for a few more things but they were very easy things I already had. I know alot of people had issues with them, but it was the easisest thing for us! we did FHA and we closed in less then 60 days.
Message edited 9/22/2010 9:38:56 AM.
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| Posted 9/22/10 9:37 AM |
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maybesoon
LIF Adult
Member since 9/09 5981 total posts
Name:
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Re: So we got our mortgage commitment letter
Posted by pickles16
thanks ladies..our lawyer knows the person we're dealing with at the bank for the mortgage and they told her that this is basically it, once we satisfy that and updated financials they will not need anything else...so I'm crossing my fingers that they're not lying to our lawyer since they've worked togther many times in the past
are you doing FHA? only because our lawyer said the FHA takes a lot longer? not sure why, but we are doing conventional and the mort person (family member) made sure to give them EVERYTHING including a letter from DH's HR about his income. So if your lawyer tells you not to worry, don't! good luck I'm sure it will go easy for you!!
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| Posted 9/22/10 11:02 AM |
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EricaAlt
LIF Adult
Member since 7/08 22665 total posts
Name:
Erica
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Re: So we got our mortgage commitment letter
We had a nightmare with WF. It's all done and in the end the final results is we got the house we LOVE and a great rate.
Yes, they will ask you for more and more. Even when it goes to the UW there will be more things they need or something THEY forgot.
Hang in there girl! Hopefully it'll go smoothly
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| Posted 9/22/10 11:06 AM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: So we got our mortgage commitment letter
Posted by maybesoon
Posted by pickles16
thanks ladies..our lawyer knows the person we're dealing with at the bank for the mortgage and they told her that this is basically it, once we satisfy that and updated financials they will not need anything else...so I'm crossing my fingers that they're not lying to our lawyer since they've worked togther many times in the past
are you doing FHA? only because our lawyer said the FHA takes a lot longer? not sure why, but we are doing conventional and the mort person (family member) made sure to give them EVERYTHING including a letter from DH's HR about his income. So if your lawyer tells you not to worry, don't! good luck I'm sure it will go easy for you!!
NO FHA, conventional 30 yr.
We had that submitted as well the letter from HR for DH
Message edited 9/22/2010 4:51:36 PM.
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| Posted 9/22/10 4:50 PM |
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Re: So we got our mortgage commitment letter
Posted by HeatherRose
thats who I used and it was that easy for me too!!!
ETA- they did ask for a few more things but they were very easy things I already had. I know alot of people had issues with them, but it was the easisest thing for us! we did FHA and we closed in less then 60 days.
ditto for us on all points. im actually surprised reading all these posts about wells. the person i worked with was awesome and made the process really easy. and when it turned out she needed a few more docs they were always easily accessible, nothing crazy. our attorney ended up being the bank attorney also so the process went even smoother.
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| Posted 9/22/10 8:30 PM |
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pickles16
Real Estate Professional
Member since 11/07 17227 total posts
Name:
Jen
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Re: So we got our mortgage commitment letter
Posted by waiting4ablessing
Posted by HeatherRose
thats who I used and it was that easy for me too!!!
ETA- they did ask for a few more things but they were very easy things I already had. I know alot of people had issues with them, but it was the easisest thing for us! we did FHA and we closed in less then 60 days.
ditto for us on all points. im actually surprised reading all these posts about wells. the person i worked with was awesome and made the process really easy. and when it turned out she needed a few more docs they were always easily accessible, nothing crazy. our attorney ended up being the bank attorney also so the process went even smoother.
this is exactly our situation..I guess everyone has a different story...it's been a pleasure thus far and the ppl we're dealing with at the bank have been amazing
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| Posted 9/22/10 9:17 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: So we got our mortgage commitment letter
We did a conventional and had NO issues with WF at all. All they requested with out commitment letter was proof of insurance and a survey - both of which we had. The conditions were satisfied within 48 hrs and we closed less than a week later. It was a great experience.
However I have heard its completely different if you're doing an FHA loan.
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| Posted 9/22/10 11:54 PM |
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