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Navy Federal NFCU Mortgage - Homebuyers Choice- In the process

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Hello to everyone.

I’m going through the process of buying a home. I did a pre-qualification with Navy

Federal back in July. We really

couldn’t find anything we were that interested in and wondered if we should

wait until our credit is a little better. We’ve been rebuilding over the past year and have really

crossed some hurdles.

As it turned out, we found a house a couple of weeks

ago. We made an offer and it was

accepted. So, we did an

application over the phone with NFCU.

By the way, they have the absolute best people working for them. I spent over an hour chatting with the

girl taking my application. She

was so helpful and inspiring!

Next, I was contacted by the LO with an email asking for

some info on employment (we are self employed), and an explanation letter

regarding a couple of charge offs on my husbands report. They also wanted an explanation letter

for that as well as inquiries in the past 120 days.

My middle number was 695 but my husband’s was 658. I didn’t realize that they base it on

the lowest score.

So I sent everything to her and waited on pins and

needles. I finally called her on a

Friday just before they closed – (about 3 days later) and she told me we were

approved! I was beyond happy. She gave me a long list of the things she

needed (taxes, rent contact information for the past 2 years, bank statements. I got nearly everything ready over the

weekend and started sending on Monday.

Later that week, I was contacted by a processor, who asked

for more information – 1099s , explanations for every address on both our

credit reports and a few other things.

I got all of those together as quickly as possible and sent them to


Now comes the waiting game and let me say that it is harder

than waiting for an overdue baby to be born. I literally can’t sleep. I check my email a few hundred times a day and find it

nearly impossible to concentrate on work.

I did hear from my realtor that the appraiser came out this

weekend but I have heard nothing about it. Does anyone know how long the appraisal process takes? How long before the credit union gets

the info before I hear? I have a

million questions.

I also keep wondering if there is any special meaning to the

appraisal being ordered. In my

heart of hearts, I really want to believe it is something positive relating to

the loan – like they feel it might turn out okay??? Hopeful! Or is

it just another step in the process.

I have no idea where I am at this point and don’t want to call and bug


I must say, they have the nicest – most professional people

working for them. My loan officer

was so incredibly nice and helpful.

I feel as if I’ve made new friends – which is a far cry from what I’m

sure the old stuffy banks would feel like.

I’m just really looking for any info anyone can give me on

the process – especially if you have dealt with NFCU doing a mortgage. I have nothing but wonderful things to

say about them in regards to checking, savings, credit cards and LOC.

Until I hear something, I am in the process of reading every

single post on every board I can find about the mortgage process and everyone’s


This is a great board.

I’ve taken my scores and reports to places I could not have imagined a

year ago. Please keep your fingers

crossed for me that this will be my next giant step into home ownership!


Thank you!


P.S. Would love

to hear your thoughts and where you think I am now. We are scheduled to close on October 14 but I would love to

do it sooner. We have a lease that

is up at the end of this month and we really need to let our landlord know by

the end of this month. I’m hoping

to get some sort of answer by then.



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Our appraisal took 3 days to come back. The LO should be able to tell you if the documents and credit are sufficient for approval and should also know once the appraisal comes in. I would say follow up with them as needed.


I'm glad NFCU is treating you right. Our process has not been as smooth but it's still ongoing.

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I just got through getting my VA loan through them. It was very smooth except waiting for my VA appraisal which took a while through no fault of NFCU. The NFCU rep answer the phone/VM's and emails quickly and did not lead me on in any way. When she wasn't there she changed her VM so that I knew that she was out and she left a number for someone that was covering for her. Everything was very organized. The title/closing company was happy when I told them I was using NFCU as my lender. They said that NFCU packages are small and thorough.


My process went something like this:


~ Submitted online app and locked in (it was new construction)

~ Within 2 days I was contacted by the LO and she gather additional info

~ She submitted the package to underwriter

~ Got approval within 24 hours

~ Waited for the house to finish being built

~ When the house was 100% finished requested VA appraisal

~ Appraisal came back and LO pushed it through for 'Rush Review' I think that was for the appraisal also

~ LO sent paperwork to NFCU closing person

~ NFCU closing person worked with title/closing company

~ Closed


The last 4 steps happened in a matter of 2 days if I remember correctly so it all comes together rather quickly.


Hope that helps some.

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processor usually orders appraisal after reviewing the file that the loan officer dropped off on her desk in a shoebox.

i have had mine wait to order because she wasnt comfortable with something and we got more info.....

so, yes, the fact that it is ordered does mean good things.... at least at my co


we give our appraisers 4 or 5 days to return the appraisal. if they cannot, they do not accept the order and we send it to someone else.

we give them that time as a courtesy for the times when we ask for a rush.

they usually come in in 3 days... sometimes 4


appraisal will need to be reviewed.... but that is a few hours to 24hrs type deal.


i didnt see anything weird about your experience so far.

looks good

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Thanks for the replies. I know every loan is different. On a good note, I got the appraisal back just a few minutes ago. It came in over so that is one less thing to worry about.


I just can't figure out if I am already in underwriting or if I will be now.

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The appraisal came back today - over the price. We were so happy.


Later the same day, we got a call that we had too many write offs in 2011. I guess if you are self employed and have a great accountant - you are out of luck.


Even though we have paid over double (amount of mortgage), we are out of luck.


Very sad day.

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I'm asking myself the same thing. They have had my tax documents for nearly 2 weeks. I got the appraisal and the title docs the same day I got the denial. I'm incredibly depressed. They don't add back any itemized items from your taxes except depreciation. I thought I could breathe easier when the appraisal came back - but not. I guess they don't really look at the other things until much later.


My LO was super and so nice through this whole process. I know she felt horrible when she had to call and tell me.


Good luck to the rest of you.

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