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Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

House Buying Journey

Hello All!! This will be my second foray (is that how you spell it?) into the housebuying journey.   I just received my pre approval with an awesome credit score!! (Much higher than is on this site, yay! ike 20 pts higher!)  So this weekend I am going to see this house that I have liked for months and they have steadily just went down on the prices. I mean Steadily! I went with Wesbanco. I was going to do an FHA where I would have had downpayment asst, but with Wesbanco, who they use I make too much :smileysad:.  However, because this is not an FHA loan and it's conventional, they won't transfer it. I put down 3%, no pmi, and a convetional loan which means I have more options i.e. the house that I want to get.  Last time I got really close, and then I was disappointed.  Hopefully, this time it will be much much better of an outcome!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: House Buying Journey

So went to the house and i love it! One of the cool things is that we were able to see the inspection report from Feb. with a buyer who's deal fell through.  We walked through the house and identify the things that i need fixed. The water pipes need to be vented, the living room floor has a bit of a dip so they recommend a reinforced floor joist, and some open wires are out in the attic.  We are writing up the deal/offer for the home today and now are entering the negotiation aspects of it.  I really love the house and hope they make the fixes it especially if it's been on the market for a year.

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: House Buying Journey

They accepted the offer last Friday!!! I'm so excited, next is the inspection, and also beginning the process of going through u/w.  Our perspective closing date is 7/3 about a month and a half away.  We are scheduling another inspection for this week and I'm just waiting on the doc request from my L/O.  I have already anticipated some of the things she'll need so that I have it on hand, last years tax returns, LOEs, copies of bankstatement and paystubs.  When I tried before my loan fell through because my taxes has credits that made my gross income look lower than what I actually make.  This time i'm confident that it'll all go through! Prayers!!!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Valued Contributor
Gunnar419
Posts: 1,118
Registered: ‎01-23-2013

Re: House Buying Journey

Congrats to you  and good luck on the rest of the process! I know some people prefer to buy newer homes that don't need anything, but I've always liked the adventure of buying older homes that have more needs but also more character. Keep us posted.

 

Community Leader
Senior Contributor
StartingOver10
Posts: 3,814
Registered: ‎03-06-2010

Re: House Buying Journey


Chbraswell wrote:

They accepted the offer last Friday!!! I'm so excited, next is the inspection, and also beginning the process of going through u/w.  Our perspective closing date is 7/3 about a month and a half away.  We are scheduling another inspection for this week and I'm just waiting on the doc request from my L/O.  I have already anticipated some of the things she'll need so that I have it on hand, last years tax returns, LOEs, copies of bankstatement and paystubs.  When I tried before my loan fell through because my taxes has credits that made my gross income look lower than what I actually make.  This time i'm confident that it'll all go through! Prayers!!!


Actually 7/3 is closer than you think! Its only about 2.5 weeks away :smileyhappy:

 

Good luck with the inspections and congratulations on your accepted offer.

Frequent Contributor
Mrs_hambright
Posts: 266
Registered: ‎12-26-2013

Re: House Buying Journey

Congrats!!! Good luck with the process!!
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: House Buying Journey

Sorry!! Meant 7/30!! Thanks for keeping me honest!!

 

 

Thanks guys!!! I'm still waiting on an inspection date as well as from my L.O to start the documents rolling. I would have thought she'd call me first thing Monday. But I'll be patient!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Community Leader
Senior Contributor
StartingOver10
Posts: 3,814
Registered: ‎03-06-2010

Re: House Buying Journey


Chbraswell wrote:

Sorry!! Meant 7/30!! Thanks for keeping me honest!!

 

 

Thanks guys!!! I'm still waiting on an inspection date as well as from my L.O to start the documents rolling. I would have thought she'd call me first thing Monday. But I'll be patient!


Don't wait. Contact the LO again. You set the inspection dates with your Realtor (there is a time period alloted in the contract). How exciting for you! :smileyhappy:

Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: House Buying Journey

So finally today I have a date for the inspection which is this Saturday at 9 am. Awesome!!!!! Still haven't heard from my LO. My realtor said that he was going to contact her and this was about an hour ago.  So I will reach out to her personally around 3pm. You would think she would be on top of starting the proces since she wants to get the money. Another cool thing about the loan that I am getting is that there are no originations fees.  That's pretty cool!!

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500
Regular Contributor
Chbraswell
Posts: 151
Registered: ‎07-02-2012

Re: House Buying Journey

So after three days, I finally hear from the LO and i'm soooo pissed off!  Well, at least I was. I'm just nervous now.  So in the beginning I asked about the freedom loan and told her how much I made when she did the preapproval and she was "oh yeah you definitely qualify". This was the 3% down that I was talking about.  So now after the contract has been written, she tells me that she didn't realize what area the house was in (she's had the email since Friday) and that i don't qualify for the program and is trying to push me into a 15 year arm....NO MAAM! So i was upset but I had to go to the OHFA site turn around and find a new lender which is  small company that has like 4 people in there but very well liked.  They got back to me quickly! And I really like the instant service. I'm thinking of looking at one other site, but i'm nervous about the hits that will effect my credit.  They are pulling tomorrow so I hope they get the same score as the other bank had.  #homebuyingblues

Beginning:Explus 630 eq 573 tu 593
Current: EXplus:677 Eq 642 TU 727
Goal: Explus 700 eq 700 tu 800

Merrick: 1550 Capital One:1150 Barclay: 2000 Walmart: 300 Chase Freedom: 500

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