I knew it wasn't going to be a cake walk and I have been dreading the first email requesting extra "stuff" they need for the loan. It's also a unique situation because I'm not on the mortgage, and my husband owns his one business and also a small part of another business. He doesn't get pay stubs, and we have to use this years income, and his W-2 is months away! The list so far isn't too bad, most of it I don't understand because I don't know anything about the inner workings of running a business, but because he has partners, a lot of the information he just doesn't know, and we have to get it from the partners, so it's going to be a mess I'm sure. Other than writing some letters and providing source of funds (which should be fun b/c no checks are ever cut, it's all ACH deposits w/ no pay stubs!) I think we should be OK. This is the only part of the process that makes me nervous, the building part is enjoyable for me, but all this paperwork and forms and requests may prove to be tiresome for us, especially since my husband works 12 hour days, he doesn't have time to get this information when they need it. We have until tomorrow, and I'm hoping that we can meet that deadline, I just know how much of procrastinator my husband is (with anything other than his business of course) and I just need to stay on top of things and keep us on track. I feel like the conductor of an orchestra only no one knows how to play the song! But so far, things have been pleasant with out NVR experience, and I hope it continues!
If anyone can give me ANY tips or advice going forward please feel free to comment or message me! I need all the advice that I can get!!
Here's a tip that helped us a lot... Keep an electronic copy of everything you send to NVR because they will ask for some things over and over again!
ReplyDeleteThanks M! I have started a folder in my email and my computer for anything I send over now.
DeleteRachel my husband owns his own commercial construction business and it required lots of documentation. Be sure to get everything they need because they will ask for more. One of the things I did was create a thumb drive with all the documents so that in case we needed to plug in wherever we were we could ! One time we were in Florida and this helped. Get one for you and him plus be sure that your documents show up in your smart phone email too.
ReplyDeleteNot sure if you are still following your blog but I do have a question about this post. I may be the only person on the loan depending on how my boyfriends credit ends up affecting everything. Are you on the deed of the house but not the loan? How does that work?
ReplyDeleteI am on the deed you just have to let nvr know that's what you want, shouldn't be a problem at all and it doesn't cost anything extra
DeletePerfect. Thank you so much!
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