03-13-2017 05:30 AM
So my wife and I prepared to buy a house a little over a year ago. I never thought Id own a home coming from a rough neighborhood and moving around as kid alot in life mainly due to financial issues. My mother bought her first home back in 01 and still owns it today, but prior to that the only people in my family that have owned homes were my grandparents maternal and paternal. Unfortunately my paternal grandparents lost it all in 05 in Katrina in New Orleans. Anyways as a young man i went to college and accrued alot of credit card debt and school loans and ended up filing for ch 7 BK back in 05. Now in 2017 at almost 35 years old in june I have several cards that are in 10k and over numbers and scores of 732,727, 701. My wife also has low 700s also including our mortgage scores. We saved over 1800 over 10 months in the bank plus some savings on the side and several grand in the bank that we have on the side. The bank is giving us an additional 8000k for down payment and closing costs after saving for those 10 months for an FHA loan. So a week ago we had been searching for houses for a few weeks and put in an offer after we LOVED the house. We ended up in a bidding war and won!!!! Now today we are excited because its our home inspection but also a bit nervous at what may be found lol but it'll probably be nothing. The house has 1200 sq ft 3 beds and 2 baths and detached 2 car garage with full and CLEAN basement lol. Closing date set for 5/5/17.
03-13-2017 08:36 AM
Congratulations on your new home!!
03-14-2017 01:48 PM
Well our inspection went very well. Waiting on results of radon gas inspection and also for the seller tofix a few minor issues. Overall my wife and I are very pleased with everything. I'll update my posts whenever i get updates all the way to the closing date.
03-22-2017 10:48 AM
So today we submitted our mortgage application and have the lowest rate for FHA locked in at 3.75%!!!!!!!😊 Now its just waiting on appraisal and going forward from there. Even though my LO said we should go to UW smoothly with no issues we're excited but nervous.
04-20-2017 08:02 AM
So within the past few weeks we have gotten our appraisal done and our mortgage commitment letter. Now we are turning in all of our conditions required before it goes to UW. One of the conditions was the sellers address some issues in the house, the agent is very unprofessional and not responding in a timely manner so we are waiting for him and we have a date set for 5/5/17 to close . My agent contacted him and had to remind him that we paid WELL over asking price and he should address the issues with no problem and also reminded him that the appraisal lasts 120 days so if they decide to not sell the house most likely another FHA buyer will come and want to buy the house and the same issues will need to be addressed. Im just hoping if and when its handled its in a timely manner. We are closing in 2 weeks and my wife and I are anxious and ready to get this over with. Our 3 children are anxious too asking us when are we moving to our new house and are they getting new beds etc lol. We just want this over with quickly as possible. Pray for us and wish us luck guys. Will update when I find out more.