We’re in the process of buying a house in MN, and we just had our appraisal pass. However, our finance lady keeps pushing to contact military higher-ups for information they can’t give out due to safety concerns. It’s creating an impasse, and we’re stuck. What should we do from here? Has anyone else had issues like this?
Sounds like you need a new lender. The one you’re working with seems to be overstepping with unnecessary questions. A lender familiar with military buyers would handle this way better.
River said:
Sounds like you need a new lender. The one you’re working with seems to be overstepping with unnecessary questions. A lender familiar with military buyers would handle this way better.
We’ve thought about switching lenders, but we’ve already invested in the appraisal and inspection. Not sure if we can transfer those costs.
River said:
Sounds like you need a new lender. The one you’re working with seems to be overstepping with unnecessary questions. A lender familiar with military buyers would handle this way better.
Good news, FHA appraisals can be transferred, and the inspection was for you, so no loss there. You could totally switch lenders if needed.
What exactly is she asking for? I’ve done a lot of loans for military folks, and usually, duty station info should be enough. Sounds like she’s asking for stuff that’s not even relevant.
Eden said:
What exactly is she asking for? I’ve done a lot of loans for military folks, and usually, duty station info should be enough. Sounds like she’s asking for stuff that’s not even relevant.
She’s asking about where and what kind of work is being performed. We’ve tried explaining, but she keeps pushing.
Eden said:
What exactly is she asking for? I’ve done a lot of loans for military folks, and usually, duty station info should be enough. Sounds like she’s asking for stuff that’s not even relevant.
That’s weird. She doesn’t need that info to approve your loan. Maybe she’s unfamiliar with military processes?
This sounds like an underwriting issue where they’re being overly cautious. Maybe try getting a statement of service from your admin shop? That should cover what they’re looking for.
SamTheSurveyor said:
This sounds like an underwriting issue where they’re being overly cautious. Maybe try getting a statement of service from your admin shop? That should cover what they’re looking for.
Unfortunately, the only admin who can provide that is on leave until December. We’re worried about this holding up the process.
Why not go for a VA loan instead? They’re more tailored for military personnel.
Pacey said:
Why not go for a VA loan instead? They’re more tailored for military personnel.
Unfortunately, we’re not eligible for a VA loan. Haven’t hit the 90-day active service mark.
If you need to switch lenders, don’t stress about your agreement with the realtor. That shouldn’t affect anything.
Wylder said:
If you need to switch lenders, don’t stress about your agreement with the realtor. That shouldn’t affect anything.
Thanks for clarifying! Wasn’t sure if we’d lose money there if we switched lenders.