We were approved fast & easy through Countrywide. (30% down)
They told me we could do 10% down if we went conventional so we did. 30 days went by. They ordered an appraisal got my credit card it came back very low but well above contract price. The seller had 5 people to sign in 5 cities and on the day of closing (the day the contract RAN OUT) Countrywide refused us the loan. At 2pm that day we were signing letters they required due to self-employment, at 4:45 Jessica called and said they couldn't do the loan.
We did get the loan the next work day but were forced to pay 6.5 instead of 5.3 because Countrywide had checked our credit 4 times in 2 weeks which had lowered our score to 714. We also had to order another appraisal which should be in tomorrow and put down 20% instead of 10%.
I discovered that originally the fast & easy (5.3%) should have been at 10% down so our little tango with countrywide costs us thousands and nearly the deal. I had to promise the seller $1k if it didn't close to extend the contract because of the last minute bs, shop for another lender, pay more down and pay more interest. Save your sanity don't deal with them. At the very least they owe me the appraisal fees and a written apology.
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