Any July closers out there??

[tdrjustus3]

We got the appraisal back and that was fine. Got the commitment letter today minor conditions 401k LOE for cash deposits divorce decree. Hopefully this will be the only round

[WantToBuyNeow]

July 30th here. Wanted shorter, but the sellers wanted to later due to tax reasons. Tis ok, not in a rush to move in, just want to smooth close!

[tirado126]

July 12th here. Home inspection done and fha appraisal tomorrow at noon - won't likely pass due to water and a/c repairs, so hopefully fannie mae (seller) will fix this...crossing fingers. Hoping they can delay the closing too in order to come up with more closing funds. Signing loan application tomorrow as well.

[tunseeker1]

We are scheduled for July 19 on new construction, They wouldn't start the build without a fully underwritten loan.

We have passed first underwriting with conditions, I sent in all the paperwork they requested and Im waiting for final approval.

We alrady locked in the rate, I just hope it was a smart idea almost 60 days out.

[tirado126]

so worried about the interest rate. we haven't locked in yet since appraisal report hasn't come back to lender yet. but even when it does this week, do we lock or wait to see if rates drop by july 8th or 9th? such a gamble right now...

[aussiesareforever]

It is a big gamble but I don't think interest rates are going down anytime soon. I personally would lock right now. I locked my rate the same day I signed my loan application. My appraisal hasn't even been ordered yet

[fabadvice]

I agree with aussie, the rates are going up. I was pre-approved on May 16 excited to get several companies offering me a rate of 3.25 but, by the time of my official application and contract on 6/4 my rate went up to 3.75. I was shocked. I checked with other companies I was pre-approved with and they were also 3.75 and 4 %.

[tammyjk]

We are supposed to close July 2nd.  Still in underwriting and the interest is 3.75.  My first LO did not lock when I told him  to at 3.5 I was so irratated and went to another broker.  But on the bright side, I had all the necessary paperwork, appraisal, insurance quotes ect.  in other words, I was ready.  We are hoping to hear back sometime this week or Monday. 

[ama0301]

I received two conditions.

1- Pay $1K debt charged off in 2006

2- Copy of lease and letter stating that I have paid timely for the past 12 months. 

I called the collection agency and paid, I received a letter an hour later stating zero balance, I sent copy of lease and letter requested.

We shall what happens...... I feel a lot better knowing that the old debt is now paid.

[Hevj1119]

Our future home just failed the septic inspection, which might push closing into August.  I sure hope not, I want out of this tiny rental!