We are currently trying to get a VA loan & have been working with someone from Wells Fargo. We have credit scores in the high 600's & a couple low 700's. The 2 things against us is a high debt-income ratio & we have been in a credit program for 2 years. My question is he keeps e-mailing with "everything is looking good, I should have a loan for you soon", is this normal time waiting or should we start to look elsewhere?? He hasn't asked for any $$ except $55 to pull credit report, which he did & I haven't paid that yet. He has also assured me that we will have no problem getting the loan we want, but I'm getting a little leery with all the waiting. I forgot to add....this Wednesday will be 2 weeks since he started working with us on this.
How long have you been waiting? VA loans sometimes take longer. Do you already submit the letter of eligibility? If not he may be waiting to verify it online. Your situation seems fine for a VA loan though.
I just edited my original post to add in how long we've been waiting. It's been almost 2 weeks. Yes, he has a copy of our eligibility certificate.
I havent personally gotten a loan, but a good friend was working with his loan officer for about 2 months to get a good interest rate. I dont think 2 weeks is that long Good luck on your rate! Parul
I just got a call this a.m. that we should have something in writing by this afternoon!! I hope its a good rate!!!!
