Mr. Mendelson is correct, agents are interested in who you are working with because they would like to represent you should you not be, myself included. He is also correct in his other advice. It is wise to look at your monthly payment (including taxes and insurance) as often you can be qualified for an amount that would necessitate a payment in excess of a figure you are comfortable with. One word of caution, when ready to go shopping, select an agent to represent your interests in the transaction (a buyers agent) rather than using the agent listing the homes you wish to see. Remember, the listing agent is sworn to represent the best interest of his seller and so cannot effectively guide you through the negotiation process in the way that a third party could and since the brokerages each get paid a pre-determined amount by the seller rather than the buyer, there is no downside to involving an agent other than the listing agent. Glad to hear you are getting some satisfaction with Wachovia. Good luck and please call should you need assistance. 434 825 2468.
They are asking because they would like to work with you. Also because your agent might have become involved to try and get answers from the loan officer that was ignoring you. For what it's worth I think you are doing the order in the right way. Get pre qualified first then go find and agent and then go out and find a house. Otherwise you might find the dream house you can't afford just like you fear.. My last piece of advice is two fold, don't worry so much about what you qualify for amount wise. Try and figure out your preferred monthly payment including taxes, insurance and any HOA fees. Even in this tight lending market people can still usually qualify for more than they are comfortable paying. And I would also ask your new loan officer what his track record is with VA loans. You may qualify but part of the approval process with a VA loan is based on the home you select also. There are extra steps on a VA loan that the other loans don't have. Just make sure he or she knows this. They should but it's wise to ask alot of questions.
Good luck, hope this helps.
Just to clarify, while there are many very professional and skilled lenders across the country who I am sure could help you and do so quickly, there is something to be said for working face to face with someone who keeps an office in your area, that is what I would consider a local lender. It is likely that your buying agent can recommend someone like this but I am happy to help if there is a need. firstname.lastname@example.org.
It should only take 24-48 hours to know if a loan will work or not. Assuming you gave them what they need. But if you didn't then they should have simply told you that you were missing X.Y or Z. It's not that complicated. Let me know if I can be of service.
It should not take this long. Do you have a loan officer assigned to the file? Navy Fed knows what they are doing, they may be backed up or there could be a problem. VA is generally straight forward. You either qualify or you don't. It's one reason I prefer to work VA loans. Navy Fed is 45-60 days right now but you should have heard back from a loan officer by now. I would ask to speak to a supervisor or consider switching lenders if you feel there is a problem.
Again happy to help.
Keller Williams Realty
Montague Miller & C0.
Sumbitted to whom, the lender or the listing agent? With rates this low things are getting backed up on the lending side. That's why I asked so I could provide you with better answers. VA loans are different also, a bit more work especially if the people involved are unfamilar with the process. Let me know if I can help.