I'm a nervous wreck!!!!

[AmazingGrace]

I'm so sure something's going to go wrong with the house. We were pre-approved, and i sent the paperwork to the lender for actual mortgage approval, and haven't heard much. What I've heard has been from the seller. She said that last friday, they came and did the appraisal inspection. I've emailed out loan rep, and i've not heard anything from her, and i called the real estate agent, who was so busy, and so rushed that I felt guilty taking up her time. She didn't have any info either.

I guess my questions are, If we were preapproved, is it pretty much a given that we'll be approved? Also, is having the appraisal inspection a step toward approval? Is it a good sign of things to come? Also, if there was something wrong with the paperwork, wouldn't someone have called?

Maybe this housebuying stuff is more than i can do on my own. I'm starting to think somethings going to go wrong, and it's going to be my fault.
Here are some pics of the house. This is the dream I'm aiming for.
http://img63.photobucket.com/albums/v191/AmazingGrace04/our house/

 

[The Mystery Machine]

Talk to the title company you are going through. They know what paperwork you need and if it is "all there" before the signing time, like a couple of weeks before.

 

[JKanownik]

What a nice house! Good luck! I hope everything works out for you!

-Colleen

 

[huey duey & luey]

Love the house. The loan appraisal determines if the hous is worth the amount of the mortgage you will taking out
ie house price 200,00
down payent 20,00
mortgage 180,00
you have to be atleast approved for a 180,00 mortgage for the bank to back you. So in a long winded way yes, it is a step to final approval. Good luck. It can be very stressful
Tara

 

[Disney Princess 6]

.................................

 

[AmazingGrace]

thanks. I need to hear that. I hope things go well for you too!!!

 

[BibbidyBobbidyBoo]

Lovely house- I especially like the bar with view of living room- that whole area there is neat!
I also like the clubhouse jungle gym in the backyard.. is that staying? LOL We have one similar but the clubhouse part is smaller- my kids would dig one like that one!

 

[AmazingGrace]

Yes, it's staying, and so are the bar stools that go with the bar. It's the ultimate dream house. I'm so in love with the place!!

 

[Disney Princess 6]

That IS really cool. My kids would just love it!!! How nice that's all there and you can just move right in.

 

[Dan Murphy]

Looks beautiful, Loriann, you'll get it.

 

[JKanownik]

Originally posted by AmazingGrace
I've emailed out loan rep, and i've not heard anything from her, and i called the real estate agent, who was so busy, and so rushed that I felt guilty taking up her time. She didn't have any info either.

It's a shame that many first time home buyers (myself included) feel this way when dealing with their loan reps and real estate agents. They are both making very good money for the amount of work they do. If you have a question, it is their job to answer it in a way that you understand. I guarantee you that no matter how many times you call either of them, they will still be willing to take your money when the transaction is complete. And if they complain about you asking too many questions, there are plenty of other loan reps and real estate agents out there. There is absolutely no reason for you to feel guilty.

-Josh

 

[Microcell]

The only concern you should have is if you are approved for the amount it will cost and if the appraisal reports that the house is worth what you are paying for it. These appraisal people are recommended for a reason, to get you the house. They have to list house values in the neighborhood"comparable" values and my appraisal guy found houses across the street that were worth more than my first house to show possibility for increased value- which the bank likes to see! Once you give the appraisal time to get to all interested parties, then you should be fine! Pre approval is definately the way to go!