Everybody is different but, no part of actual underwriting should take more than a few days. I would say the simpler your file is (i.e. 1 job, 1 bank account, no cash transactions, no big purchases, no debt, no loans) the easier it is to review. Even so They try to stick to a 72 hour window to start reviewing your file and once they do it can be done in a matter of hours. So if you don’t hear back within 1 business week then definitely inquire.
As long as you have provided everything on the list they should resubmit that day. They won’t resubmit 1 file at a time so if you need to provide 3 things they will wait.
A good idea if you need to resubmit more than 1 thing is not send them 1 at a time. Send them in 1 itemized email.
One reason for not resubmitting immediately is a communication gap. This sometimes occurs if you sent your files in multiple emails. It is also possible that your MC is not on the same page as you. You can ask via email for verification your file was resubmitted and if not if there is anything else needed from you.
Thank you! I addressed all conditions at one time since all but one of the things were items I already provided. After that, I emailed NACA services & copies my MC. They said she would resubmit my file. After a few days I followed up & my MC responded & said she will wait until my next appointment to do so. I’m not sure why as I’d rzther know if I need something additional prior to my next appointment.
Hi, Brenee, I’m waiting also… have you started looking at houses?
I started looking at houses which was a mistake… we shouldn’t look until we have a letter of credit. I stopped looking and I feel 100% better… the loan will come when it comes and life will be beautiful
Yes I continue to look because I started house shopping back in February. I have a preapproval for fha, usda, & conventional. However, in the middle of searching I came across NACA & would rather utilize this program. However if something comes up that I absolutely love I may have to go another route.