Mortgage Loans

[PhillyGuy215]

Thanks so much to all (especially Shane!) for all the tips and advice over the past year.  I've read a lot and learned a lot.  Especially using OPTOUT to protect those credit scores from unwanted surprises during those months between the app and settlement.   I don't even dare to think how complicated it must be to go through this same process at some point in the future to do a move-up.      Hopefully that won't ever happen... since I'm doing a 4br/2b 3000sqft!

I got word today that my loan is clear to close.   2nd home inspect is next week and week after that I close and finally get this 90-day saga over with!  

[beamMEup]

Congrats!  That's wonderful!

[indiasnowden]

Congrats to you!  90 days?  Your scaring me with that.  It will be worth it when you wake up and brew coffee in your own kitchen for the first time.  Enjoy.  And nice score.

[PhillyGuy215]

Thanks for the kind words. The 90 days was my design. I had planned to wait until April of this year but rates hit 4.1% on FHA back in November and I felt it was a lot better to jump on that rate rather than sitting around guessing the bottom of house prices. Prices have fallen some where I live in the city and they are still going down but it is very slow. There are lots of universities here so that keeps the market stable. And the lease on my house expires in May, so for about 3 months I will have both a rent and a mortgage to pay but I budgeted for it. It took a lot of planning to make it work, too. Had to find a house that needs zero work done to it so my expenses are just appliances, painting and moving. I cut down on Christmas big time, and socked away my Christmas bonus and I've cut expenses down to the bone so I won't need to borrow much after move-in. Looking at about $5K of expenses which I can take out a secured loan at NFCU, let it marinate until I get rid of my rental, and then pay it off once the rent payment is gone. Can't say all this has helped my ulcer any! Stretching out a transaction for this long does take it's toll.

[ShanetheMortgageMan]

Congrats and you are welcome!

[PhillyGuy215]

And it's finally done!  

The keys are in my hands!  :-)

[mauve]

Sweet!  Congrats!