Resubmission Timeline

Home Forums Purchase Program Resubmission Timeline

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #68445
    padgeta2
    Participant

    If I am resubmitting to hopefully be qualified for a higher amount, will I get through underwriting any quicker than the first time? The first time took me exactly a week, but I was hoping to hear something much sooner this time around.

    #68446
    Nelsont
    Member

    Here’s the thing with underwriting. Due to all the variables involved there is no timeline at any step of the process. The underwriters have 72 hours to respond. But even that is a guideline and not a rule and only accounts for the time it takes them to hand you conditions and not for the entire underwriting process. I would stay alert and give it a week before you reach out. Who knows you might find out sooner.

    #68447
    padgeta2
    Participant

    UGH! I was hoping that since I’ve already been qualified, but just not at the higher amount that it might go more quickly, since literally all they have to check is the additional month of payment shock 🙁

    #68448
    purdynerdy
    Participant

    Before this pandemic, I resubmitted for higher amount and it was approved within an hour. But with the ATD events and this pandemic, the UW may not ba as responsive.

    #68450
    padgeta2
    Participant

    Wow! That would be an answered prayer. I asked my MC if I should attend the next event on June 4, to see if I could get through UW quicker. She said she didn’t think there was any reason to do that, but I don’t see why/how it would hurt? If it could get me approved the same day, I think that’s a huge benefit instead of waiting. But I also don’t want to disrespect her and her expertise (she’s been amazing, but I know UW is completely out of her control)!!!

    #68452
    Nelsont
    Member

    If you are already submitted to underwriting the atd won’t do anything for you. They don’t like touching files that are already submitted since it adds confusion-someone new will be reviewing your file while it’s already in process. Otherwise the atd is a good idea. You will probably get a response before June 4 anyway.

Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.