You are not being impatient. If you've supplied all the necessary information and paperwork, it should only take a day or two. Also, the lending model is important. Liz mentions RPM, which is good, and there are a couple of others as well who have local underwriters, a pool of great local appraisers, and local funding authority. Good luck to you!!
Red Oak Realty
These days, delays in the loan process are common and can be, within reason, acceptable . Delays in communicating the status of your file are not. Your lender should have the service sense to keep you posted, even if he is perhaps not able to fulfill the initial request.
Bottom line, if there is any doubt, there is no doubt. If you don't feel comfortable now, it will be worse later and when more is at stake.
I would be happy to demonstrate how we do business here.
Steve Miller with RPM: 510-385-1224
Live up to your moniker, be happy, and move on.
I almost choked when you say you've been waiting for a week. That's no excuse, popular or not. Hope you're working with a local lender with whom you can establish a good one-on-one relationship. In many transactions, if we have any hiccups in the process, it's usually on the lender side. So it helps to work with someone who is very responsive (obviously, this one isn't), is resourceful and has the same sense of urgency as you do. What if you were getting to write an offer and you needed to have that preapproval letter right away? Even a busy lender would have an assistant to help field the calls, get some stuff out of the way, etc.
You're not being impatient. One week is 6 days longer than it needs to be. I'd say move on.