I am from Idaho and I have found one lender who specializes mortgage loan as much as owner-occupied loan. I filled all of the application I need and I haven’t heard from my lender for a week. I am just getting a pre-qualification letter so I can make offers to sellers as soon as possible.
Is it normal to take that long time to get a only pre-qualification process? I am beginning to think that may be I am not even qualified…
No, this is not common, I am a LO and I can tell you over the phone whether you’re prequalified, and by the end of the day have you preapproved.
I pre-Qual people all day long and I too can tell you in about a 15 min conversation how much you can qualify for, where we may get hung up…if at all. We can then run you thru our automated underwriting system to get an actual approval and then with confirmation of your income assets and fico score we can then send an approval letter to your seller with a condition of an acceptable appraisal and final underwriter review.
Good Luck.
MEG, CALL THAT BROKER FIRST THING MONDAY THE 15TH AND TELL THEM TO GET THE “PRE-QUAL” IN YOUR HANDS BY 12:00NOON OR YOU ARE GOING TO THEIR COMPETITION.
IT’S ALL ABOUT THE $DOLLAR$. BROKERS DON’T GET PAID UNLESS THEY CLOSE THE DEAL…IF THIS JOKER WON’T EVEN GET THE BALL ROLLING, YOU MUST MOVE ON.
YOU MAY BE DEALING WITH AN INEXPERIENCED LOAN OFFICER THAT IS COMPLETELY CLUELESS!!!
…GOOD LUCK!!!
CHECK YOUR E-MAIL FOR THE INFO ON “HARD MONEY”
I just caught this thread. Meg, have you heard from your broker yet?
If not have someone else qive you a prequal. Do not waste your time. If this is the way their customer service is now…imagine how bad it will be when you need something!
YOU KNOW, GUYS, I THROW THE LENDER’S BUSINESS CARD.
HOW COME IT HAS TO BE SO DIFFICULT TO DO THIS PROCESS?
I AM THINKING ABOUT FINDING HML.
I AM FROM IDAHO, I AM DOING WRONG OR THERE ARE NOT GOOD LENDERS FOR REHAB INVESTORS HERE… 
Meg, don’t give up. This is one of the “hard parts” of investing. You need to shop and find a broker that you feel comfortable with. Talk with other investors. Find someone who is established. Get references if you can.
I am sure that you have seen brokers come and go. It never hurts to have a back up. There are numerous brokers out there who are experienced and licensed to do business in Idaho. Be selective.
I realize that you are in a fix right now, but, investing a little time in this area will save tons of time and stress in the future. ;D
THANKS, MDHAAS
I HAVE BEEN SO FRUSTRATED, BUT YOU MADE ME FEEL BETTER AND CLEAR MY MIND TO TRY AGAIN.
THANKS AGAIN! 
NO PROBLEM. We all need a fresh perspective sometimes!