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May 2010 Weddings

tomorrow is the day I have been dreading

So FI and I put an offer down on the house we found and the lady accepted it. She's even going to pay our closing and inspections and leave all the appliances. The house is perfect for us and I love it. 

The thing is..... we were pre-approved for the loan (well FI was since I'm in between college and grad school) and now we have to go give the lender all of FI's W-2's and blah blah. Even though FI has awesome credit I'm afraid they won't go through with the loan because he may not have enough. Its  so dumb...FI is one of those guys that has no credit cards or anything because he just pays cash for everything. and that's great but I hate how loan companies don't see how great that is. I don't want them to be jerks because he doesn't have a ton of credit history. I'm just really nervous that they're going to decide he doesn't have enough credit history and not give us the loan. 

I just need tomorrow to be over, I'm so so so nervous. 
[IMG]http://i1262.photobucket.com/albums/ii617/syeager515/1326165778038.jpg[/IMG]



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Re: tomorrow is the day I have been dreading

  • You didn't give them that information when you were pre-approved? when I got pre-approved i gave them my W2s, bank statements, pay stubs, all that fun stuff. i thought you always did that?

    i hope you get it though! That sounds like an amazing deal :) We stil haven't heard back about which buyer the bank is choosing, so we are starting over and looking at houses on Sunday. not excited... I wanted the whole thing to be done!! Sigh.
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  • FI gave them just the basic info, like what he makes a month and what bills he pays and then his SS # so they could check his credit. Then they pre-approved him for an amount at a certain interest rate based on the info they were given. Then they told us that when we found a house that we would have to give them actual documentation to, I guess prove that FI does indeed make what he said. He has near perfect credit, the lender was super impressed, but like I said, he just doesn't have a lot of credit history. So I really hope they will look at his credit score more. 
    [IMG]http://i1262.photobucket.com/albums/ii617/syeager515/1326165778038.jpg[/IMG]



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  • Congrads on the house. Some banks can do what is called an alternative credit history. They'll can go buy the payment history of your utillties like rent, gas and elect, or whatever. I know that the utillity companies here don't report that info to the credit credit bureaus.  
  • Congrats on the house. That is an awesome deal, I will keep my fingers crossed for you guys that it all works out
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  • fingers crossed steph!!
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  • They would not have pre-approved without checking his credit scores. His checking account still bumps his credit, just slightly.
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  • I understand the anxiety.  I'll pray on it for you.  Good luck maintaining in the meantime.
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  • GOOD LUCK!!!!! tell us everything!!!!!!!!!
  • Good luck!!!!  keep us updated!!!
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