Have I mentioned I'm impatient? Surely I've mentioned it. Not just a little impatient - out-of-control impatient in the most irritating way possible. I hate waiting for anything.
When I talked to our banker this morning, she said we should know within a few hours whether or not we've been approved for the loan. She then called back about an hour later to ask me a few more questions, then went on to say that it will take a couple days to get the prequalification letter, then she will courier it to our home. We went over some other basic information - what account we want the $50 prequalification charge taken from, whether we want the 5/1 ARM or the 7/1 ARM (only options for Physician-Loan), etc. About 30 minutes after we got off the phone I started going over our conversation again in my head. Now - she said the letter would be ready in a couple days - does that mean we're approved? She didn't say, "You're approved," but she did say the letter will be sent out soon.
First I had myself convinced that this call meant we were approved, then I decided I was jumping to conclusions because she never said those magic words, "You're approved." I thought then that I could just wait a few more hours, then if she didn't call, I would then call to clarify. A few hours? That's just too long to wait. So I called. I told her I was sorry to bother her...blahblahblah...but was I to take that call as an acceptance? Were we approved or was that an if-you-are-approved-this-is-what-comes-next call? Unfortunately, it was the latter.
As it turns out, the Physician-Loan isn't an automatic process; it has to go through an Underwriter, which takes longer. She said looking at our credit report she has no reason to be anything but optimistic, but I'm still a nervous wreck. We've gone through this loan before, and we were TWO POINTS off. Two lousy points kept us from refinancing a few years ago. To qualify for this loan, we not only have to have excellent credit, but EXCELLENT credit. What knocked us out of EXCELLENT last time was the car we had just bought. It wasn't the added debt of the new car that hurt us, but the running of our credit report that had knocked some points off our rating. It's so crazy how credit rating works.
Tuesday. Now she says we won't know until Tuesday. That's what? Four days away? I don't even know what day it is. So I'll let you know right now - I'm going to be a basket case until Tuesday.
Have I mentioned I'm impatient?
