In the home stretch... This might actually happen!

Anonymous · ‎09-29-2009

I never really thought I'd be a homeowner. I'm still not. But... I got a closing notice from the title company (basically just saying that my closing is scheduled and telling me what to bring). The processor said everything is in line, and basically underwriting is just waiting on the appraisal.

The appraisal was done yesterday, and came back today... $5000 over purchase price (with no repairs required). My loan officer sent the appraisal to my insurance agent and requested a binder.

My credit score has gone UP by about 25 points since I initially applied for the loan. I got a committment letter from the grant program that's paying a majority of my down payment.

I've jumped through many hoops, and had many ups and downs (had to fire agent, paid judgments not cleared through the court, loan officer being fired from the bank, couldn't put in offer due to "seasoning" requirement from bank, etc.) and took care of everthing asked of me. Anyone forsee anything else?
I want to be excited... But don't want to get my hopes up.

Message Edited by Sommery on 09-29-2009 10:01 AM

Anonymous · ‎09-29-2009

Well congrats to you... I just received my Title and Bank documents. Buying a home is very stressful and feel as though I'm going to develop an ulcer! But it is exciting. Once I muster up the gutts to sign all these docs they will schedule an apprasial as well.

So you got your closing date from the title company? The builder gave me mine when I signed the sales documents, how far off was that date for you from what you got from the Title Co? I'm hoping it won't get pushed out further...

Anonymous · ‎09-29-2009

The date on my contract is the same as the date set by the title company. My loan officer was assigned to my file the week before last, after my original loan officer was fired. The processer stayed the same. Last week I got some conditions back from underwriting relating to some repairs and issues brought up in my inspection. They were already fixed, so no problem there. They asked me for a letter of explaination regarding three collection accounts on my credit report (stolen checks) that were from 2003 but weren't reported until last year. (I didn't even know about them until they showed up on my credit, so I never got a police report). I sent the letter and the processer said it was great, and that underwriting was just waiting on the appraisal. After a few months of no progress, things are moving very rapidly now. My closing is set for October 15th.