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Joined: Aug 2008
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2teach2
 
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Joined: Aug 2008
Posts: 6,378
Senior Member
Refinance question
Old 01-11-2021, 07:08 AM
  #1

Happy Monday, everybody! We are in the process of refinancing our home. We started the process back in November with our current loan company, thinking the process would be easy. We provided all documents quickly, had an appraisal waiver,and they had given us a projected closing date of January 4. Last Wednesday we received an email from them saying we had been approved and they would be calling us to schedule someone to come out with the loan docs for us to sign. Then, on Thursday, we received another email saying that our approval had been denied by Freddie Mac, but we were still approved by FMNA, but they wanted us to have an appraisal at the cost of $345. I, of course, called and talked to them and said that, if anything, our credit should have improved since we paid off two cars last month. They had no answer for why this happened. Has anyone had a similar experience? We were so close to getting this done, and now this setback has come up. DH wants to just call off the process and wait a few months after the inauguration to see how interest rates go. Any experiences, thoughts, opinions?


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