Mortgage Process Expectations

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  • #62238

    Bank app was signed yesterday! Wooohoooo! Is there anything I can do now to prepare myself for the next steps? Any advice? Any lender conditions that I should expect?

    #62242
    Nelsont
    Member

    Awesome! This is probably the most nerve wracking part of the process. You will more than likely receive conditions similar to those you had in qualification and credit access. The best thing you can do is continue to save and document everything until the day you close as if you are preparing for qualification. Good luck!

    #62243

    @Nelsont thank you!!! I am nervous but I am mentally prepared for the monkey wrench.

    #62246
    caycolon
    Member

    @newyorkspirit
    I too am from Queens and waiting for my first intake appt in Feb. I already have concerns that most prices for homes in Queens or for that matter NYC are insane. Have you been successful finding affordable homes in Queens?
    How has your experience with the Newark office been during your NACA process?
    Thank you in advance.

    #62252

    Hi @caycolon Congrats on starting the journey to homeownership! It is a ride but it is a great one. I am in Queens as well and when I started, I thought that I could not afford anything here or nassau county. My home is is nassau county and I could not be happier. It is close to queens so I don’t feel so far away from what I am familiar with.
    I did find many homes in Queens within my budget during the process but this house is for me! I am more than happy with what God had for me.
    During the process, I had an amazing remote counselor so everything was online and on the phone. When I got qualified, I then had my MC in the NJ office and she as well have been amazing. I have nothing negative to say about them.
    The process has been amazing for me because my expectations were not in a fantasy. If I could you any advice, it would be to be overly prepared. They say 3 months of banks statements, give them the last 4. They want the last 2 years of taxes, give them the last 3. Also, if they say that you will hear from them in 48 hours, set your mind to 72 hours. My closing is set to be in about 2 weeks and I am preparing for 3 mentally.
    Overall, my experience has been amazing. I hope the same for you!

    #62274
    caycolon
    Member

    Thank you for that bit of encouragement. Your advice is duly noted!

    #65570
    Falyn
    Participant

    @caycolon how was the February intake workshop? I just closed on my NACA house on January 30th in Baychester. I am super excited and the whole process has inspired me to become a real estate agent and I’m hoping to become a NACA agent. Please let me know if I can help you through the process.

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