@realgarycoleman because you aren’t officially allowed to look at houses before you are qualified the time between qualification and passing underwriting depends largely on how long it takes you to find the house you want. It also depends on what needs to be done to the house.
For instance some people find what they want right away and some people take 6 months of looking at houses before they find what they like and can afford. Then once they find something they like maybe it needs to be rehabbed which could take a month or 2 of construction or maybe they have trouble negotiating repairs with the seller after the home inspection. And in the case of new construction it is not uncommon to sign the contract, get through credit access and sign the bank app at which point the bank has to wait 6 months for the house to be built.
So that was a long way of saying every house is unique and every naca member is unique. I would say a fair estimate is 6 to 12 months from home buyer workshop to closing. In my case It was 7. It took about 1 month to get an intake, 2 months to get qualified, 2 months to find the house I want and 2 months under contract. While under contract it took 3 weeks to get credit access approved and it took 4 weeks to close after I signed the bank app.
@realgarycoleman we stretched out the process over 4 months since our rental lease doesn’t expire until end of May. We found a house only a three weeks after getting qualified. Luckily the seller was in no rush to close and accepted our delayed closing date.
For those that have not gotten the ctc yet, do you know what is holding you back? For me the underwriter wanted a specific explanation for one of my conditions. I had to talk with my mortgage counselor to see exactly what the underwriter wanted to clear the file.
Congrats on the ctc. We’re nearly a month late past our closing date contacted everyone and still no answers. Biggest advice is to remain a pest even when you hitting your deadlines because when you catch a snag takes a while to resolve the simplest things.
Process can be very smooth it’s the mortgage counselor and underwriter and bank that determines your fate.