Am I being a jerk or is the lender slow?

[Brian Kang]

Hey all! So my wife and I and my sister are buying an investment SFR in Colorado. The lender is dragging their feet with the pre approval so I think. We sent in online applications and took a week to give us list of documents and then another week after sending in docs to not even get pre approval but communication back that we can start looking for houses but there may be issue with debt/income ratio.

Not sure if it's the holiday season or this lender is slammed but there hasn't been much communication back at all. This is our first deal and wondering if this slow turnaround and lack of communication is typical or am I just being an impatient jerk. 

[Chris Mason]

Hi @Brian Kang,

If your scenario is super complex, as in some form of self employment that the lender has never seen before on tax returns, it can sometimes take a week to get an answer.

For 98% of scenarios though, yup that's slow. The majority of the time, I'm same-day if the paperwork hits my inbox before 9 am and the homebuyer is available to answer any questions/clarifications I have over the phone.