Overall, the experience was okay, at best. There were a few hiccups that I would consider major throughout the loan process. Our loan fell through not once, but twice, before we were able to secure funding. The first time was of our own doing, so shame on us. The second time however was due to an oversight on the loan officers part. When we converted from a VA status to a conventional, we were told the down payment would only be 3% due at closing. We were told that my wife would need to provide her most recent pay stub for the month of September, and when she did so, that pushed us into a different bracket, and disqualified us for the 3% down payment option, and pushed us to a higher bracket of 5% needed to close. It was never indicated that by providing that information, that would disqualify us for the lower down payment option. We naively thought that by submitting that information, it would only aid us in the process. We were under the impression of, "the more money, the better." This created a lot of undue, and unneeded stress on my wife's and my part. It wasn't explained, nor caught until after the documentation was already submitted. We received a phone call from the loan officer, and we were basically told, "hey, I've got some bad news, and some good news. The bad news is with the addition of the September pay stub, you guys do not qualify for the 3% down payment option, but I did get you approved for 5% down." The way we took it with the explanation we got, and the way it was explained was, "oops, my bad, I made a mistake, but this had made me a better loan officer." We were the ones who ended up suffering in the end dealing with the stress and discomfort of having to come up with more money. In the end, we had to borrow money from a family member in order to meet the needs for closing. We were able to close, but now are stuck with repaying the money we had to borrow. We would have had the money at 3%, but at 5%, we had to come up with the additional funds needed.