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Valued Member
wally101
Posts: 42
Registered: ‎01-19-2012

Re: January and February

Just got a call from my LO... I sign loan docs tomorrow and close on Friday 1/25/13!!!!!!!!

EQ FICO score from here... EQ 716
USAA monitoring Experian Plus scores : EX 773 EQ 773 TU 785
Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010

Re: January and February

Congrats
Good Luck
May all your dreams and wishes become a reality!
Member
RiverLady
Posts: 9
Registered: ‎01-17-2013

Re: January and February

Congrats!! I hope mine goes as smooth as everyone else's!!:cathappy:

Valued Member
tshope4205
Posts: 39
Registered: ‎11-09-2012

Re: January and February

Update - closed on Friday!  After getting through a last minute issue with settlement statement, everything else went smoothly & we are in our new home (well sort of, haven't officially moved in yet as we're having some work done)....but excited that the buying process is over!!


Starting Score: 534 (10.30.12)
Current Score: 649 (12.9.12)
Goal Score: 700


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Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: January and February

Wow! Congrats!!! We are hoping we will close Jan 31st. So not too far behind you! :-)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Regular Contributor
bobebob
Posts: 244
Registered: ‎08-14-2011

Re: January and February

I expect my refi to close sometime in Feb, so I guess it qualifies for the thread.

 

I'm currently 29 months into a 20 year fixed at 4.375%  Balance is about $152k ($4500 paid ahead on pricipal).

 

I'm applying and locked into a no cost 15 year fixed refi @ 2.875% (1/8 of a point for the "no cost")

 

Just got the loan app on 1/25 and returned it signed with all requested documentation to the mortgage broker 1/26.

 

He said closing should be in about 20days barring any delays getting an appraisal scheduled.

 

Depending on where the appraisal comes in, I might have to borrow a small amount ($10-15K) from my 401K to meet 80% LTV and avoid MI.

 

All the work I do to keep my credit pristine really pays off when it allows me to get good rates and rapid approval on new loans.

bobebob || June: My FICO SW EQ(Upgraded Version) = 821 ||June: Walmart TU Fico=834Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Regular Contributor
cclee
Posts: 223
Registered: ‎08-10-2012

Re: January and February

Congrats bobebob, great rate!  



In The Garden Until 11/01/15 - Last App 11/03/13
Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010

Re: January and February

Congrats...

Good Luck
May all your dreams and wishes become a reality!
Regular Contributor
bobebob
Posts: 244
Registered: ‎08-14-2011

Re: January and February

Thanks.  It's fun taking the FICO out for a spin once in a while.  I just try not to do it too often. 

 

But when the opportunity comes up to save $20K on my mortgage, it's a no-brainer!

 

:smileyhappy:

bobebob || June: My FICO SW EQ(Upgraded Version) = 821 ||June: Walmart TU Fico=834Goal = FICO's>800 || In my wallet: CostcoAmEx(20k), DCU Visa Platinum (10k), BoA Visa Signature (17.1k), Walmart Discover (7.5k), AmEx Corporate (5k). All PIF every month.
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012

Re: January and February

Last Update! :-)

Purchase Price: $347,900
Property: Single Family Home, new construction (ready!), 4 bd, 3 1/2 ba, study, 2800 sq ft finished, 900 sq ft unfinished walkout basement, deck built in backyard on main level, has a covered patio in front, 2 car garage
Toured house : 1/2/13
Submitted offer on: 1/2/13
Signed Purchased Contract On : 1/5/13

Type of loan: FHA serviced through CHFA, 1st mortgage (for home purchase), 2nd mortgage (for 3% down payment)

Downpayment: 0.5%

Loan rate: 4.125% (rate is based on income since the 2nd mortgage covers my downpayment...higher income equals higher interest)

Loan application submitted: first loan app on 12/31, second loan app on 1/7/13 (had to switch to builder's lender to get $15K incentives which paid our $8,000 in closing costs in full and dropped the home price $5,000)

Loan approved: 2/5/13
Closing date: 2/6/13
Closed on: 2/6/13

Amount due at closing: $138 (+$70 for AC unit to be covered under additional 4 year warranty that the mortgage broker paid for + $685 in interest for February - $130 in earnest money remaining - $487 in builder credit towards Radon Mitigation)

Monthly mortgage payment (1st & 2nd): $2,337 (PITI plus PMI)

HOA dues: $73 per month (paid through April)
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014

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