The entire homebuying process, even for the most diligent buyer/team/realtor, is make-or-break with the VA Appraisal. Here I was ahead of underwriting the entire time, had plenty of room for qualification, everything dress-right-dress, and not only did the deal almost crash a week before close, my fiance and I were under extreme duress and it really was "We need $15K in a briefcase, cash," basically, or deal's off.
Once pre-approval is done, NOTHING should happen until the home inspection is done and VA Appraisal done. And yes, I did ask far in advance best time for that.
We were given NO remedies on comps, etc. No parameters. Whatever we submitted, it was rejected. We wound up with a ridiculous appraisal and no real chance to factor in other comps. There was not one realtor, attorney, or anyone else involved in the process that did not recognize how low the appraisal was. $190K would be a lot closer from the SMEs' estimates.
Not only did this nearly crash the deal and wreck our lives, we are now missing $15K that would have been used for our move. I was nearly killed doing the move myself.
I do realize the impositions VA presents--I've been fighting them for 8 years. But this mess was hardly the VA's creation alone.
Veterans United made the home buying process easy for my wife and I. Dave and Jim provided excellent service and made it possible for us to purchase a home that we love after months of searching. I would definitely recommend Veterans United to anyone searching for a home! If you get lucky you may end up with Dave and Jim too!
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I would like to have someone from Veterans United review the policies, procedures and performance of the closing agent McDonnell and Associates.
After signing all closing documents on August 6th and sending them back to V.U. (presumably by Aug. 9th) It is my understanding that the mortgage was "funded" on August 10th (the following Friday). In my follow up with McDonnell, I was led to believe that; A) the disbursement for my existing mortgage lender would be sent upon the loan being funded (August 10th - it was not, and B) Although, I had elected to have my disbursement mailed directly to me, it was also my understanding that the check was mailed upon the loan being funded - It was not.
McDonnell held the funded loan proceeds for three more days before writing either check, sent both checks via FedEx ground - delivered by the end of day... (delaying receipt another three full days.) And, ultimately, sending checks written on a standard bank draft, instead of cashier’s check, certified check or teller check, further delaying use of funds until the check clears another 5 business day.
All of this means that McDonnell is collecting interest on the mortgage funds, nearly 14 days from loan funding.
Additionally, because of the delayed receipt from closing my original mortgage, I have incurred a daily interest of $12.91 or $110. (precisely the same amount McDonnell could make by delay of payment.)
I strongly recommend the Veterans United team! They-Wendy & Samantha take the time to listen to your concerns and will help you in making the best decisions possible for your home purchase. Wendy and Samantha work very well together, which makes it easy for Samantha to keep the client informed about the purchase process and progress.
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Overall experience with Veterans United was exceptional from the start of the home buying process through closing. The loan team I had was great (Andrea Thames, John Sullivan, Andrew Nelson) and the rest of the team assists through the entire process.
I would also like to commend Lucy Stranz (Veterans United Lighthouse program). She was instrumental in helping me reach my goal of home ownership and getting to the prequalification phase.
I would definitely recommend Veterans United to those desiring to purchase a home. Again, thanks to the entire team that made it possible for me to become a home owner.
It has been with extreme pleasure to work with Veteran's United. They made a life long dream, of mine, come true. I now own my dream home.
I really recommend United Veteran to buy tyour home. Very easy steps and they keep you informed on the process of buying a home. Thank you very much Molly Meiss
