My NACA timeline

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  • #70705
    Rml712
    Participant

    I have found these posts quite helpful, so I thought I would share mine!

    2/8 Attended Homebuyers Workshop
    3/5 Intake appointment
    *Next appointment was supposed to be 5/1, but I was able to request an earlier appointment
    4/16, 4/21, 4/27 – appointments

    4/27 submitted for qualification – status qualification pending
    5/5 conditions – status not approved conditions
    *Lost a week because my MC said she resubmitted us to UW, but actually didn’t
    5/12 finally resubmitted – back to status qualification pending
    5/16 another condition – status not approved conditions
    MC stopped responding and did not resubmit our file even though condition was addressed 5/16
    5/22 finally resubmitted to UW – back to qualification pending
    5/23 qualified

    5/28 we had an offer accepted
    5/31 inspection done
    6/4 cancelled contract (property was a money pit and seller refused to do any repairs)

    6/15 under contract again
    6/17 inspection done
    7/19 moved to credit access – status credit access request
    6/24 HAND sent us the required repairs list
    *Credit access was delayed because we are buying a condo and needed to order HOA certification docs. Those took a week to be delivered to us and then several days for all the needed info to be submitted to the UW.
    7/1 status changed to credit access pending – received conditions – changed back to credit access request after addressing conditions
    7/3 credit access approved
    *July 4th holiday delay
    7/7 submitted bank loan application – status Mortgage Process
    7/13 notified of credit pull & submitted HAND repair waiver
    7/14 status changed to Underwriter Initial Review
    7/16 conditions – status Underwriter Pending- Incomplete
    7/20 waiver approved, HAND cleared
    7/22 conditions cleared – no status change

    Closing date is supposed to be 7/30 – I will update with further progress!

    #70706
    kc
    Participant

    Thank you for posting your timeline. These posts are so helpful and encouraging. I’m NACA qualified and just beginning my home search. Keep updating us about your journey. Believing with you that you will have your keys soon.

    #70808
    Rml712
    Participant

    **UPDATE**

    7/26 – nothing has happened with my file. We are for sure not closing on time. We are still waiting on appraisal. There was a whole mess up with whether or not the appraisal was being done as is or subject to (the repairs). No one in NACA or BoA decided to follow up on why the appraisal was taking so long nor clarify this issue, so it just sat with no one doing anything.

    #70843
    Rml712
    Participant

    **UPDATE**

    7/27 – finally moved back into the initial review status, so BoA is looking at my file again. A condition for the appraisal popped up, as expected. The appraiser should be submitting appraisal report to BoA at some point today.

    #70845
    sweetlilly
    Participant

    @Rml Hang in there. Hope it all works out in the end.

    #70887
    Rml712
    Participant

    **UPDATE**

    7/28 – I confirmed the appraisal was finally submitted and is being reviewed. My file was also escalated. It’s almost the middle of the day and there’s still no change to my file/no communication from anyone. I am hoping at the very least they will give me a closing date because I honestly have no clue when that is going to happen. I was told the hold up was the appraisal and that BoA was doing everything else needed with the file while waiting on it. I don’t know if that means I will be able to close in a matter of days or weeks…

    #70888
    kjenkins79
    Participant

    @Rml712 who did you reach out to to have your file escalated to? My closing date has past and I am being told the issue is with BOA accepting a verification. I have been approved with conditions for about a week or so

    #70889
    Rml712
    Participant

    @kjenkins79 reach out to your regional director! If you don’t know them, ask your MC or your realtor if they’re in-house. Or call your local office if you can get through

    #70895
    Rml712
    Participant

    **UPDATE**

    7/28 – Status changed to Approved – Outstanding Conditions. Still waiting on that appraisal..

    #70929
    Lady B
    Participant

    @tml712 congratulations!!!

    I received a text message stating I want qualified and I have conditions? I checked my file but the is not any documentation as to what the conditions are. Do you know who is supposed to convey the conditions and when they are supposed to do it?

    #70930
    Rml712
    Participant

    @Lady B – That could mean the conditions are internal. You’ll have to reach out to your MC to find out for sure

    #70931
    Lady B
    Participant

    @tml712 I’m sorry, can you tell me what internal conditions mean?

    #70932
    Rml712
    Participant

    @Lady B something that the MC has to address, not necessarily a document you need to provide

    #70934
    Lady B
    Participant

    @Rml712 thank you for explaining that to me ?

    #71074
    TPeguese
    Participant

    @rml712

    Did you close? If so, when?

Viewing 15 posts - 1 through 15 (of 18 total)
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