Baseboards and Basement Egresses

This waiting for groundbreaking is painful. PAINFUL I tell you!

Mortgage Status
Haven't heard anything in a while from NVR. We continue to trickle them copies of documents they have requested as they become available. Still no formal mortgage approval in hand, so I'm taking the one-off "approval" email with yet another document list as our formal approval. Ha.
The Homeside website shows our status as still in underwriting. I'm really hoping they have their acts together enough so that NVR/Homeside has to give Ryan some sort-of "go ahead" for us to break ground in 12+/- days as scheduled.

All of this silence and waiting, however, given us time to ruminate on the two outstanding issues with the house. Both were discovered at the pre-construction meeting.

Baseboards
If you're following this blog, you may remember the first "baseboard incident". If not - catch up here.
This time, we were talking about the quarter-round issue with our PM and SR and realized that the gorgeous tall baseboards shown in the model were NOT included as part of the max-upgraded trim package we are paying extra for. Surprise!
We could theoretically purchase these tall baseboards for $1200-ish. But we were way past the change date, and were therefore out of luck. We found this obnoxious for several reasons:

1. The model showing the trim package we selected has the tall baseboards, it's not a crazy assumption to make that they would be included in that upgrade.
2. The tall baseboards are not listed in the selections sheet as a stand-alone upgrade option.
3. Doing it later ourselves would be an issue - since we're already paying for the top-level trim package, we get boxing detail in the dining room. The boxes are centered on the wall using the short, standard baseboards. Swapping them for tall later = re-do of boxing trim work to re-center.
4. Is it REALLY a huge deal to switch standard for the taller baseboards at this late a date? We still have months to go before that step.

Current status - SR provided regional SR contact info. Hubs had a conversation with him stating our concerns. We offered alternative solutions such as:
1. Buying our own tall baseboards and leaving in the house for the trim guys.
2. Cancelling the trim package, reverting to standard
3. Having the trim guys measure for the tall boards when installing the boxing.
4. Discounting the trim package we paid for
5. Ryan exception to allow late change order for tall baseboards (we pay)
6. Paying cash for the baseboard difference now, or at closing so as not to mess up mortgage paperwork.

None of these were accepted during the call. Regional SR promised to get back to Hubs. Stated that
"they did not mis-represent anything". Not sure how this comment was helpful to anyone. That was 3 weeks ago, and crickets. Hubs was unhappy, but is rapidly moving towards pissed as we get no follow-up and no resolution to an easy-to-solve issue. See long list of potential solutions above.


Egress
In our pre-construction meeting, our PM explained that our basement egress would be on the back wall of the house. We express strong concern - as we plan to add a deck/ patio, and the egress would land smack-dab in the middle of it. We didn't choose that wall for the fireplace to avoid having that bump-out in that space. We ask (strongly beg) to have it moved to the morning room bump out wall.
PM talks us off the ledge and promises he'll do his best to move it. This is more than a little scary - since we just met him, and we've built up no trust yet...eek.


5.12.16 update - Hubs contacted our PM to discuss both issues, since he hadn't heard back from the Regional Sales Manager. PM confirmed that the egress will be moved to the morning room (Yay!)
On the baseboard situation; PM will either be asking the trim guys to move up the boxing detail to center based on the tall baseboard measurement and/or just installing tall baseboard that we deliver to the house ourselves. He's really earning that 10 on the survey here!


Later 5.12.16 update - Regional manager is not my favorite person. Confirmed that Ryan is not budging on the baseboards. Insists again this was not a "bait and switch". I guess we'll see what magic our PM can make happen, if anything. We're annoyed. Well, I'm annoyed. Hubs is PISSED.

Is Death by Mortgage Paperwork a Thing?

Received an email from HomeSide (NVR) last night stating:

"Congratulations! Your loan has been conditionally approved by the underwriter. Items required to be provided by you are listed below."

Proceeded by yet another insanely long list of document requirements. Some of them are obvious and expected carryovers - for example, monthly bank statements, Homeowner's Insurance Policy, 2016 tax returns; while other requests were....a little special.

Other Ryan Home build peeps - is this the "Official" approval? Because it was very non-eventful. From reading other blogs, I thought there would be a call / letter / email....something?

Hubs has called our (4th) rep. three times already to ask important questions about moving forward, and to provide updated information (most important - the FINAL total cost from Ryan, because their numbers are based on an old total). Each time she has promised to "call him back before she leaves at 4 pm". Spoiler Alert: she has never called him back.

I'll spare you the full list, but point out a couple of the most frustrating items this go-round:

8. Copy of the final CD that is signed by you and by the seller for the sale of your current home.

No clue what this is. Our agent has no clue what this is. If the woman would call my husband back, perhaps we could get clarification so that we can provide this item.


9. Signed, dated letter from the person that shows as the joint account holder on your TD Bank accounts stating you have 100% access to those funds.

Have already sent this 2x. Nothing has changed. I just keep re-sending the same document like a crazy person.


11. Signed, dated letter to explain the following address that is noted as current within the time frame of residences listed on the application: 101 Tyler Ct. Comment if you owned or rented and approximate dates.

We rented a basement apartment from friends from 2000 - 2003, before we were even married. Why they could possibly need this information from SIXTEEN YEARS ago, I cannot begin to fathom.

It Helps to Think of it as a Scavenger Hunt

We received our third? fourth? email from Homeside requesting....you guessed it! More documents!
We're also on our fourth NV mortgage contact. In case you're keeping track...
1. Jonathan - initial NV mortgage meeting 
2. Sam - NV(?) loan officer
3. Bridgid - Homeside - Sam's assistant
4. Debby - Homeside - loan processor

I *think* Sam, Bridgid, and Debby do actually all work on the same team, as there seems to be interaction between them. 
I also received an automated notice this morning (3.21) that our loan has officially moved from "Processing" to "Underwriting".  Yay for progress.

Here's the scavenger hunt list of requested documents from the 3.18 email: 

1.       Copy of CD signed by seller and by you for the sale of your current home (when available).

2.       Within 30 days of closing we will need updated income and asset documents.

3.       Name and phone number for the insurance agent you will be using for the subject property (when you have finalized a policy).

4.       Copy of 2015 tax returns after 04/15/16.

5.       Signed, dated letter from Hubs stating you have 100% access to the funds in the joint bank account(s).

6.       Copy of January to February and February to March statements for your Bank account.

7.       Will need statements from present each month thru closing to verify the funds as you save them (as available).

8.       Copy of bonus check being used for close and proof it has been deposited to your bank account and that it is in available funds and not pending (when available).

9.       Copy of 401k statement showing the loan withdraw that is being used for close, copy of the check, updated statement showing balance after the withdraw and proof that it has been deposited to your bank account and is available and not pending (when available).

10.   Age of your dependent noted on the application and on tax returns (this is needed to add the correct age of the dependent to the loan application).

This is intense. I completely understand why they need all of this, but it's like a part-time job to chase all of this stuff down. I wish there was just a standard list at the beginning and we could work on it all up front. It's frustrating to think we're finished for a while, and then find out the hunt continues. 

Someone heeeeelllllp! I'm drowning in paperwork!

Whoa. Sam the underwriting guy has unleashed the Kraken. Emails and e-document sign-offs, and requests for documents are now coming fast and furious. Sort-of regretting waking him up. This is made worse by the fact that our agent sent over all of the electronic listing paperwork requests today.

Working on final house prep (spackle/paint touch-ups/cleaning/staging) for pictures (and listing?) on Saturday.

Feeling WAY overwhelmed at the onslaught.

Glub.Glub.

We're somewhere on this sad ship...glub.

Homeside Financial

NVR learning of the day: they use Homeside Financial for 80/15/5 loans. Figured that out when a random electronic-signature consent email from Homeside appeared in my inbox today. I was suspicious because Quicken had called offering a refinance deal on our current home only hours before. A quick Google search had led me to a link between Quicken and Homeside, but I stopped the investigation when Hubs confirmed that the NVR underwriting guy told him to expect to hear from them.
Once I followed the link, low-and-behold, NVR confirmed. So I completed the authorization for electronic document transfer and approval of mortgage materials.

So.Fun.

Following up with NVR

I just emailed our NVR rep looking for an update. We met with him back on January 7, and we're wondering what comes next...I thought I had figured out from reading other blogs that we are to expect an official "approval" letter at some point, but we've heard nothing since our meeting. We'll see if/when he responds.

Update: As of 2pm ET 2.19.16 (almost 24 hours), no response.

Update: Heard from our rep on 2.22. Apologetic response and blame toss to underwriting guy.

Underwriting Guy (Sam) is now on the ball and has reached out to Hubs (the paperwork department).

Whoo hoo. Progress!

NVR Mortgage Meeting

Again with the money stress?

We met with Jonathan, our NVR Mortgage rep at our development's model on 1.7.16. He was very down to earth, honest, and reasonable in our discussions. I felt an unexpected level of trust with him, and the hubs stated the same to me after the meeting. Impressive!

He reviewed everything, ran our credit and confirmed that he would be recommending us for conditional approval at 4.25% (ugh. Damn Fed.) Hubs' credit score needed to bump up a tiny bit. so he indicated that we should focus on that. We were thrilled to not have to be considered contingent. Our sales rep had already warned us that people were ready to take our lot, which would be possible if we had to be a contingent sale. Of course, we NEED to sell our house before closing on the new one to feel remotely comfortable. Who can afford two mortgages? Not us!

We also talked through how much we'll put down, expected closing costs, etc. We talked through using a 401k loan. He offered the option to finance the closing costs; which we'll save as a last resort if things get hairy with money at the end. *fingers crossed*

He also explained that NVR will re-run our credit prior to close to make sure all is well. Told us not to open ANY new accounts, which things to pay off for biggest impact on score improvements, etc. All stuff we knew, but nice to get his confirmation of our plan.

Still waiting for a final/approved letter. Not sure when we should expect that.


We brought all the requested documents to the meeting:

Income Documentation:

1.      One month of the most recent pay stubs reflecting 30-days year-to-date pay. Bi-weekly pay must include 3 consecutive stubs to complete 30 days.

2.      2013 & 2014 W2’s

3.      Please provide a copy of your offer letter with your new job.

4.      Please provide a copy of the most recent teaching contract for your district.

5.      2013 & 2014 1099s for Social Security/ Pension (if applicable)

6.      2014 Monthly/ Yearly benefits statements for Pension and/ or Social Security Income. (Award letter received at the beginning of each year.

7.      2013 & 2014 Complete tax returns (all schedules) ***If you are self-employed and file business returns, please provide both personal and all business returns.

Asset Documentation:

1.      3 months Checking/ Savings account statements for all accounts. Please provide ALL pages. If the statement says 1 of 6, we will need all pages even if they are blank. Printouts from internet sites are not acceptable if they do not include the bank name, account holders name and account #.

2.      Documentation for any non-payroll deposits over $1,000 (copies of checks that were deposited)

3.      Most recent 2 months or quarterly investment/ IRA / 401K / Stocks / Bonds, etc. statements. Please provide all pages as stated above. DO NOT send balance pages only.

4.      Terms and conditions under which Retirements funds can be withdrawn - even if not using these funds for settlement.

Miscellaneous Documentation:

1.      Copies of all borrowers driver’s license and/ or passports. For FHA or VA loans also provide a copy of each borrower’s Social Security Card.

2.      Please provide a copy of your certificate of eligibility for VA financing and/or DD214.

3.      Please provide a copy of your valid VISA and/or paperwork evidencing renewal, if applicable.

4.      Please provide a copy of your divorce decree and property settlement agreement.

5.      Please provide a copy of your most recent tax bills as well as your home owner’s insurance declaration page and any home owner’s association dues paid.

6.      Please provide the documentation evidencing the Home Owner’s Association dues associated with your current property.

7.      Most recent Mortgage Statement for all properties owned. Please include any 2^nd trust mortgage or home equity lines or loans.

8.      Please provide a copy of your bankruptcy discharge.

9.      Please provide a copy of the paperwork showing the satisfaction of the outstanding judgment(s).

10.   Name, address, and phone numbers for landlord (if renting)

11.   Letter of explanation for any recent credit problems, if applicable, i.e. Late Payments, collections, judgments.

12.   A check for appraisal and credit report fees. Your loan officer will inform you of the amount based on the program you are applying for.

Ryan Says, "Give Us ALL the Money"

Is anyone else finding the most stressful part of this process to be the money? I may have to start biting my nails. Lord knows the stress-eating isn't going to help anyone, and I can't afford it now anyways!

We initially thought we would have access to take a loan from my 401k to help make this magic happen. All was well until I got myself to my plan's website and learned that a loan or straight withdrawal would not be an option. *Insert inappropriate cursing*

So, we had our "come to Jesus" meetings with the NVR mortgage guy and our saleswoman. Mortgage approved, non-contingent (ha ha, yeah right). Ryan willing to work with us with reduced deposit, extended delivery date, a deposit schedule of our choosing, and should we get desperate, financing of the closing costs.

In the meanwhile, we need to do the following:

1. Hit the $2billion Powerball (which would require a move to oceanfront property in Hawaii, but whatever.)
2. Ready our house for sale, praying that a sale would net even or maybe even a squeak of profit.
3. Get out of my expensive car payment into something more affordable
4. Improve the hubs' credit score a bit by paying down a couple of credit cards and disputing some wonky stuff on his report.
5. Pay back rest current 401k loan to open up another loan for more $.  
6. Investigate cheap temp housing options including friends' basements.
7. Eat only ramen noodles. If we're feeling like high-rollers, maybe also some generic mac & cheese.
8. Repeat the mantra, "base level carpet will be great!"

Wish us luck. Or, invite us over for a home cooked meal. Please.