Yeah, credit unions can be quicker, but it's not always a guarantee. I went with a smaller local bank thinking it'd speed things up, and still ended up waiting almost two months. Turns out they outsourced their underwriting, which slowed everything down. So definitely check who's actually handling the paperwork behind the scenes—sometimes the "right fit" isn't obvious until you're already stuck waiting...
Haha, sounds painfully familiar. I went through something similar—thought I'd cracked the code by choosing a local lender, only to find out they were waiting on some mysterious third-party appraisal company. Took forever. Step one: pick lender. Step two: wait patiently. Step three: realize patience is overrated and start stress-eating snacks. Curious though, anyone else find that appraisals specifically seem to drag things out even more than underwriting?
"Curious though, anyone else find that appraisals specifically seem to drag things out even more than underwriting?"
Yeah, appraisal delays are definitely a common bottleneck. Underwriting can be tedious too, but at least it's somewhat predictable—appraisals, though, feel like total wildcards. I've had scenarios where everything was ready to close, and then bam... appraisal company goes radio silent for two weeks. 😑
One thing I've found helpful is proactively asking your lender upfront about their appraisal process—do they have multiple appraisal companies they work with, or just one? Sometimes lenders that rely heavily on a single third-party appraiser can get stuck in a backlog if things get busy. If you have the option, it's worth checking if your lender allows you to request a different appraisal provider or at least nudge them to speed things up.
And yeah, stress-snacking is basically part of the real estate investor starter pack at this point. Hang in there... the snacks help, trust me.
Appraisals are definitely a wildcard, but honestly underwriting can be just as frustrating sometimes. I've had files breeze through appraisal only to get stuck in underwriting limbo because someone decided to take a vacation or needed one more random document. Pro tip: keep extra snacks handy for underwriting too... you'll thank me later.
Underwriting delays can indeed feel unpredictable, but they're usually tied to specific reasons rather than random vacations. Often, underwriters request additional documentation because something in the initial submission raised a question or wasn't clear enough. Have you checked with your loan officer to pinpoint exactly what's causing the hold-up? Sometimes proactively clarifying details or providing extra context upfront can smooth things out and speed up the process... snacks might help morale, but clear communication is usually the real lifesaver.
