NVR Mortgage Meeting

Within a week of signing the purchase agreement, we had to meet with NVR Mortgage to get approved for our mortgage. You have to meet with them even if you are planning to get a mortgage somewhere else.  We were planning to use NVR anyway since we get $15,000 in closing costs covered if we go through them plus we bank with Ally, which doesn't offer mortgages. Our loan officer emailed us a list of all of the documents we needed to bring with us to the meeting within a day or so after signing the purchase agreement. The fee for the loan application was $550. We emailed all of our documents to the loan officer in advance, which made our meeting go quickly. Our loan officer was very friendly and easy to work with. When we showed up he had already filled out a lot of the paperwork and ran our credit report.  They use all three bureaus and pulled reports on both of us.  They use the middle score of person with the lowest scores for the application.  If you don't have the full down payment already in your account you will have to fill out a budget worksheet, so NVR can see that you have a plan to save for the down payment.  We filled out a lot of forms for NVR, state, and federal.  We got a copy of all the paperwork including our credit reports at the end of the meeting.  We also got an updated copy of our estimated closing costs based on today's mortgage rates, but this didn't really mean much since we hadn't made your tile and flooring selections.  We were approved within a week of our meeting.