APRIL 2015 CLOSERS

[madmann26]

Tentatively April 2nd.

[Anonymous]

That's awesome! I hope you close with no issues & I really hope my husband & I get to join this thread soon!

[Anonymous]

We are scheduled for April 1! 

[frugalQ]

Alright now! Go 'head April closers!!!

[Anonymous]

Home Location: Grand Rapids, MI

Purchase Price: $99, 800.00

Property: House - 1422 sq ft

Submitted Offer on: 2/21/2015

Signed Contract on: 2/23/2015

Ernest (Deposit) Money:  $1,000

Lender Name: Team Mortgage

Notes about Lender: Awesome!! Available, friendly and so helpful!!

Type of Loan: FHA 30 year fixed

Inspection: Completed 2/26/2015-Minor things, Seller is taking care of

Purchase contract addendums:

Loan Rate: 4.00

Application submitted: 2/23/2015

Loan Processing: 

Mortgage Commitment Letter:  

Appraisal Ordered:  Will order once we hear back from underwriting

Appraisal Completed: 

Went to underwriting: 3/2/2015-sending before appraisal ordered

Underwriting Complete: 

Final Approval: 
Walk Through: 

Closing Date: Scheduled for 4/1/2015

They are sending our loan to underwriting before we order the appraisal.

Hubby has a 6 yr old collection on his credit, they have added the 5% to our DTI.  Which puts our DTI up to about 12/47. Our middle scores are 643 and 676. We will have 3 months reserve. We did get an approve/eligible through the AUS. It didn't kick out anything at all. All it said was to pay any judgements, which we do not have.

Good luck to everyone this month!! Looking forward to seeing more on here.

[mynameainttracy]

I have been anxiously awaiting this thread!

We are scheduled for 4/14, it was 4/2 but the builder asked us to push back. We went through full underwriting prior to going under contract and have been in constant contact with our LO and doc specialist ever since, so we should be in good shape.
Congrats to my fellow April closers and I'll post our deets when we get closer.

[sarux3]

I've been waiting for this thread to show up!  My turn...

Home Location:   Dumfries, VA

Purchase Price:   $345,000

Property:   Single-family detached home, ~2200 sq ft including basement

Submitted Offer on:   Feb 1, 2015

Signed Contract on:  Feb 4, 2015

Earnest (Deposit) Money:  $2000

Lender Name:   NASA Federal Credit Union

Notes about Lender:  No complaints so far, LO has been very patient and helpful with this first-time home buyer!

Type of Loan:  Conventional 30-yr fixed, high LTV special (This is the 0-down-no-PMI product that NASA FCU offers)

Inspection:  Completed Feb 7, only minor issues found. Seller agreed to requested repairs.

Purchase contract addendums:  In addition to agreed-upon repairs, seller is paying 3% closing costs

Loan Rate: 4.75 -- higher than the typical 30-yr fixed, but that's the price you pay for the special loan features

Application submitted:  Jan 9, 2015, 

Loan Processing:  Still in processing, waiting on a couple requested docs before going to underwriting...

Mortgage Commitment Letter:  Is this the same as the conditional approval letter?  We got that on Feb 27.

Appraisal Ordered:  Feb 9

Appraisal Completed:  Feb 14, appraisal came in favorably.

Went to underwriting:  Pending

Underwriting Complete:  Pending

Final Approval:  Pending
Walk Through:  Pending... Realtor wants to do this the morning of settlement

Closing Date:  April 1, 2015

[mynameainttracy]

Home Location: Centre County, PA
Purchase Price: $349k, no concessions
Property: Townhome - new construction – 2,256 sf + 2 car garage
Signed Contract on: 10/2/14 (foundation was being poured, all permits were in place)
Ernest (Deposit) Money: $16,110 (5% required by builder + % of upgrades we added)
Lender Name: Wells Fargo
Notes about Lender: Not our first choice but the builder asked us to give them a shot. We went through full underwriting prior to signing a contract. This was because of our past credit history and the fact that we were having to put up such a large amount in escrow. Top notch LO. Process has been a breeze.
Type of Loan: VA 30 year Fixed, Funding fee waived
Loan Rate: 3.375%. locked 1/21
Closing Costs: $17,878 ($11,071 +$6,807 in prepaids)
Monthly taxes: $431
Monthly Insurance: $51
Monthly HOA: $194
DTI: 25% front end, 29% back end
Gross Income including VA benefit: $133k
Appraisal Ordered: Not yet
Appraisal Completed: Not yet
Went to underwriting: Pending
Underwriting Complete: Pending - ALthough we went through underwriting for the pre-qual, approved with conditions (just document requests)
Final Approval: Pending
New Home Orientation: 4/8
Closing Date: Scheduled for 4/14

Just some notes about our particulars if it can help others who may be in a similar situation:
We were discharged from Ch 13 BK in June 2012. During our BK13 we walked away from our home and allowed it to FC. The title was transferred out of our names in early 2011. The FC loan was a conventional so we weren’t dealing with any CAIVRS issues. Middle scores for my husband and I were at 675ish when applying.

When we started thinking about buying our scores were low 600’s. We made sure our credit reports were accurate (mine wasn’t) and disputed the issues. We both got a couple of trade lines and a CPO Lexus about 9 months prior to applying to try and get our scores up. When applying, our credit scores averaged 675. Home prices here are high and generally nobody helps with closing costs so we knew we needed at least enough cash on hand to cover that.
Now we are going to have a beautiful new home and our BK 13 falls off our credit reports in just a couple of months. It can be done!

[frugalQ]

Congrats to you all!!!!

[apeydee416]

I guess it's my turn.. I am paranoid as I don't know what tho!

Home Location:   King George, VA

Purchase Price:   $301,500

Property:   Single-family detached home, 1870sqft, New Construction

Signed Contract on:  August 2014

Earnest (Deposit) Money:  $4000

Lender Name:   C&F Mortgage

Notes about Lender:  He has been working with me before the build was even started to get my credit in shape to qualify. My husband and my mid scores are 651/647

Type of Loan:  FHA 5/1 ARM

Inspection:  

Purchase contract addendums:  add closing costs.

Loan Rate: not locked.

Application submitted:  February 11, 2015

Loan Processing:  Still here... womp.

Mortgage Commitment Letter:  

Appraisal Ordered:  I know it was ordered, but unsure when.

Appraisal Completed:  

Went to underwriting:  

Underwriting Complete:  

Final Approval:  
Walk Through:  

Closing Date:  April 4, 2015