FEB 2015 CLOSERS

[Anonymous]

If anyone has to work with Capital One to get a mistake fixed I feel sorry for them. Brief timeline:

January 20th - Complete full mortgage application and sign documents (Credit was pulled on 12/10)

January 21st - Hard inquiry happens from Capital One on my credit file.

January 22nd - myFICO alert triggers notifying me that an inquiry happened the day before. I review the alert, it was initiated by someone with the same first name and middle initial as me, but a different spelling of the same last name. The address listed is in Georgia and I live in Ohio. I call my lender because it was very specific that I shouldn't apply for credit during this process, and I haven't applied for credit since mid-July when my car came off the lease and I bought it. Lender says I will need a letter of explanation from myself and a letter from Capital One that says its ID Theft, a mistake, or something. I called Capital One immedately after getting off the phone with the lender. After explaining everything they say they will send a letter in 7-10 days to my home address.

January 23-Feb 8th - No letter.

Feb 9th - Call Capital One to find out what the hell is going on. I'm escalated to a supervisor who emails me a link to upload a copy of my credit report with the inquiry and incorrect name and address circled along with a letter explaining what I wanted done and some personal information. Completed within 20 minutes of me getting the email with the link. I was told to expect a call on Feb 11 or Feb 12.

Feb 10-11 - No call.

Feb 12 - No call. Getting impatient I call them. They have no record of the files I uploaded to the case number they provided. Currently on hold. They came back and said they will call me back in 3 hours after I upload the docs again. Done. They better come through.

Side note. Just got off the phone with the lender. CLEAR TO CLOSE!

[newstart2010]

They are doing this in the March 2015 closers thread.  Thought it might be fun to do for us too.

Home Location: Tampa, FL

Purchase Price: $441,000  ($24,000 down to bring to conventional loan max)

Property:  Single Family Home, 4460 sq ft on 8000 sqft MOL lot, New Construction

Submitted Offer on: 7/9/2015

Signed Contract on:  7/9/2015

Ernest (Deposit) Money:  $5000.00

Lender Name: M/I Financial

Notes about Lender:  They have been WONDERFUL!  Very accomodating and understanding, very communicative, and so helpful!

Type of Loan:  30 yeah conventional

Inspection: 

Purchase contract addendums:  M/I Homes pays $12,000 in closing and $15,000 in design center upgrades

Loan Rate:  4%

Application submitted:  1/15/2015

Loan Processing: 1/29/2015

Mortgage Commitment Letter:  

Appraisal Ordered: 2/9/2015

Appraisal Completed: Est 2/13/2015

Went to underwriting: 2/2/2015

Underwriting Complete: 

Final Approval: 1/28/2015
Walk Through: 2/13/2015

Closing Date:  Scheduled for 2/27/2015

[newstart2010]

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@Anonymous wrote:

Side note. Just got off the phone with the lender. CLEAR TO CLOSE!

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YAY!!!!!  Congratz!!!  

[Anonymous]

Home Location: Hilliard, OH

Purchase Price: $143,500

Property:  Single Family Home, 1412 sq ft on 6,970 sqft lot, built in 1959

Submitted Offer on: 1/17/2015

Signed Contract on:  1/18/2015

Ernest (Deposit) Money:  $500.00

Lender Name: Market Mortage Co.

Notes about Lender:  They've been great for the most part.  Very accomodating and helpful, but I've had to prod for communication from time to time.

Type of Loan:  30 year FHA

Inspection: 1/23/2015

Purchase contract addendums:  Seller pays $3500 in closing costs, insurance, etc

Loan Rate:  4.625%

Application submitted:  1/20/2015

Loan Processing: 2/5/2015

Mortgage Commitment Letter: 2/12/2015  

Appraisal Ordered: 1/26/2015

Appraisal Completed: 2/4/2015

Went to underwriting: 2/5/2015

Underwriting Complete: 2/12/2015

Final Approval: 2/12/2015
Walk Through: 2/19/2015

Closing Date:  Scheduled for 2/20/2015

[andemalia]

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@newstart2010 wrote:

We are delayed because of our tax transcripts not coming from the IRS in time, and a paymentwe had made not being applied intime.

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You can get your IRS transcripts online in about 5 minutes. We did that for tax returns we couldnt find. Just go on the IRS website and answer some identifying questions. We were able to save and email ours within a short time of the loan officer asking instead of days/weeks to wait.

[andemalia]

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@Anonymous wrote:

If anyone has to work with Capital One to get a mistake fixed I feel sorry for them. Brief timeline:

January 20th - Complete full mortgage application and sign documents (Credit was pulled on 12/10)

January 21st - Hard inquiry happens from Capital One on my credit file.

January 22nd - myFICO alert triggers notifying me that an inquiry happened the day before. I review the alert, it was initiated by someone with the same first name and middle initial as me, but a different spelling of the same last name. The address listed is in Georgia and I live in Ohio. I call my lender because it was very specific that I shouldn't apply for credit during this process, and I haven't applied for credit since mid-July when my car came off the lease and I bought it. Lender says I will need a letter of explanation from myself and a letter from Capital One that says its ID Theft, a mistake, or something. I called Capital One immedately after getting off the phone with the lender. After explaining everything they say they will send a letter in 7-10 days to my home address.

January 23-Feb 8th - No letter.

Feb 9th - Call Capital One to find out what the hell is going on. I'm escalated to a supervisor who emails me a link to upload a copy of my credit report with the inquiry and incorrect name and address circled along with a letter explaining what I wanted done and some personal information. Completed within 20 minutes of me getting the email with the link. I was told to expect a call on Feb 11 or Feb 12.

Feb 10-11 - No call.

Feb 12 - No call. Getting impatient I call them. They have no record of the files I uploaded to the case number they provided. Currently on hold. They came back and said they will call me back in 3 hours after I upload the docs again. Done. They better come through.

Side note. Just got off the phone with the lender. CLEAR TO CLOSE!

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Congrats!!!!!

[newstart2010]

Our lender will not take the PDFs of the tax transcripts from online.  We tried.  They only want them directly from the IRS when they request them.  The issue is also that the IRS has not updated the transcripts so that is the delay.  Once the transcript is updated it only takes them 2 days to get them.

[newstart2010]

How many of you go by your new house all the time?

We are building and have had access to the house since signing the contract on it.  We moved to an apt closer to the property so I could be at the site everyday and monitor the construction.  Its been and intense 7 months.  really intense.  We have 1000s of pictures of every step, every board inside our walls, every wire...everything.  Its been fun but its so stressful as we get closer!  This delay is definitely tough, but going by tonight and seeing what we need marked to be fixed in tomorrow's final walk through makes me happy there are 2 weeks left and not just 1.  I don't want to close while we still have tweaks needing to be done on it.

BUT I WANT TO BE IN MY HOUSE!!!  

[Anonymous]

I've only seen it twice. Lol. Once at the first showing and again during the inspection

[Dino81]

My wife and I closed yesterday.  The entire process for us took almost exactly one month, and even that felt like years.  We drove by our home almost daily, we were so excited!!

I have been lurking for years now without ever posting.  These forums have done wonders for me in understanding my credit, by spending, and getting my finances back on track.  In the process of packing I found a credit report I pulled about 5 years ago, something like 574, 574, 608.  When I just had my credit pulled for the mortgage, it was 708.

Purchasing a home has been a life long dream.  This site has been such an invaluable resource.  Best of luck to those of you are in the process.  It's incredibly stressful and nerve wracking, but when you open that door for the first time as a home owner, it's all worth it!!!