If there was a way to consolidate the paperwork, it would be easier to keep it in order.
First let me start off by saying my experience was horrible. I served a year in Iraq and never once during combat did I feel as stressed out as I was during this process. The biggest issue I had was with all the requests for additional paperwork after my closing date had come and gone without being closed on the home I was purchasing. I know it is difficult to determine what will be required by the underwriters, but I think the only two things that weren't required of me were a blood sample and a note from my Mom. I also sent multiple pieces of paperwork several times which became quite frustrating. It is my opinion that more should be done upfront to determine the necessary documents required so that the homebuyer doesn't have to spend so much time tracking down paperwork later on during the process. One of the biggest problems I had was that the funds for the verification of deposit were significantly different due to normal living expenses. This threw me out of the automatic approval and created even more confusion and headaches for everyone involved. I definitely believe that there has to be a way to better determine the paperwork needed buy the homebuyer to make the process a little easier for them. Other than those few problems I had that just about cost me the home I was trying to purchase, I think everything else is fair and fairly easy.
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The online Pre-approval tool was useful... when it worked. However, in almost every case when I needed a pre-approval letter in short order, the system was not funtioning, or had reset mey credentials because I hadn't had my numbers reviewed and verified in the last week.
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