Mortgage Loans

[kjm79]

OP, you may also want to check out veteransunited.com and talk to their loan specialists. They supposedly also have a departement that provides free advice and assistance on repairing credit for active military and vets.  Might be worth looking into.   I haven't applied for a VA mortgage from themt, but they have been very helpful with answering qualification and eligibility questions.   Their min required score was 620.

[gray0218]

I believe veteransunited and va mortgage center is the same company. They are being very helpful and seem to think I should be ok with getting approved with them. I hope so.....

[kjm79]

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gray0218 wrote:
I believe veteransunited and va mortgage center is the same company. They are being very helpful and seem to think I should be ok with getting approved with them. I hope so.....

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Ok.  Good to know, they have completely separate websites.  Good luck.

[Booner72]

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brownplayboy310 wrote:

Booner72, how did you get denied AFTER closing?  That's freaking insane!  Now I'm getting really scared, I'm in UW and so far I haven't heard anything NEW that bad.  I'm just curious to see if it's something that might happen to me.  Thanks!

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First there's closing.  Then there's FUNDING.  So before they funded, they ran a credit report and the new judgment was there.  We didn't even know it was coming.  The washer/dryer was delivered, I was pregnant "out to here" in the house unpacking, and got the call.  Nearly threw up.   My 3 year old yelled at our realtor "You're taking our house away!!"

So really, a person can't breathe until the loan FUNDS.  Ask for table funding, so you fund at closing.

T.R.A.U.M.A

(The judgment was from the child support division.  They found out we were buying because we had to get all the statements of on time payments.  he had paid on time FOR YEARS, but owed arrears from when the ex girlfriend filed for support and LIED saying he never lived with them, but in fact, he had lived with her and took care of the baby til baby was three, and even put exgirlfriend through dental tech school with his own money.  I hate that lying _________ and I will never forgive her and totally blame her for this.  The Child Support Division rep told me when I called to get the statements "You're not buying a house."  I was like (YES I AM, ..........whatever.....she got me).

[ReBuildingAgn]

See that scares me. I don't think my loan funded today (didn't mention anything about it). I was going to app for a better credit card so I can ditch my rebuilders, but now I feel like I should wait.

[webhopper]

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ReBuildingAgn wrote:

See that scares me. I don't think my loan funded today (didn't mention anything about it). I was going to app for a better credit card so I can ditch my rebuilders, but now I feel like I should wait.

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You should wait at least 30 days after closing...  sometimes the lender does a post-closing audit, and they'll pull your report again... If your file doesn't pass the audit, you get to hand your keys back... its important that you don't run up credit card bills or apply for new credit to get furniture etc. during that time frame.

Do without the mattress and curtains if you have to...  I hear wal mart has a great deal on inflatable queen size air mattresses   And Goodwill always has sheets to hang on the window for privacy!  I know that's ghetttoooo with a capital G, but its better than handing back your keys!!!

[Booner72]

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webhopper wrote:

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ReBuildingAgn wrote:

See that scares me. I don't think my loan funded today (didn't mention anything about it). I was going to app for a better credit card so I can ditch my rebuilders, but now I feel like I should wait.

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You should wait at least 30 days after closing...  sometimes the lender does a post-closing audit, and they'll pull your report again... If your file doesn't pass the audit, you get to hand your keys back... its important that you don't run up credit card bills or apply for new credit to get furniture etc. during that time frame.

Do without the mattress and curtains if you have to...  I hear wal mart has a great deal on inflatable queen size air mattresses   And Goodwill always has sheets to hang on the window for privacy!  I know that's ghetttoooo with a capital G, but its better than handing back your keys!!!

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With all due respect, I do not think you should give people this advice.  I have never heard it from anyone else.  Once the title is recorded at the county and the loan is funded, then a person is safe.  We are all on hold with our credit for months going through this process.  So once it's over, sometimes new credit is needed, most often WANTED Desperately.

My loan officer even told me that I could go get credit after the house funded.

[gray0218]

I was told the same. After loan was funded I could get furniture etc.

[ReBuildingAgn]

Gray and Booner, I heard the same thing. Once closing and funding was established we're in the clear. I spoke to my loan officer and she said my loan was funded the same day (last Friday). I was hoping to get furniture this past weekend, but that 30 day thing gave me pause. I dont Need to finance my furniture since I have plenty of cash, but I rather hold on to my cash as a just in case.

[CaliforniaGirl01]

I've never heard of waiting 30 days to apply and obtain new credit. I closed last week and when it funded and we were on record, two days after I went to Home Depot to finance on new appliances. LOL. I even got a $1,000 credit credit at Walmart for curtains and blinds. My LO said to wait till everything funded and we are on record to start applying for new credit. He never mentioned about an audit after closing and funding. After everything funded, we even got our refund from escrow for $2000 which was the earnest money we had put in when we first went into contract. Oh please tell me about the audit after closing being incorrect  because I really don't feel like handing back my keys