Credit Cards Center Credit cards from our partners
Reply
Established Member
Posts: 31
Registered: ‎04-27-2011
0

Re: July 2014 Closers

I'm a little late to the party, but we are ATTEMPTING to do the "world's fastest closing"....working with a local bank and our LO has 15 years experience closing VA loans, and doesn't seem to think we will have any issues - and I'm praying he's right!!   We got pre-approved with the bank on 6/11/14.  Our current home was listed for sale on 6/10/14 and we accepted an offer/went under contract on 6/25/14 - MUCH MUCH faster than we ever thought would happen!  We started house hunting very aggressively and found something we love, but purchase contracts and such wasn't signed til 7/3 very late at night...then, with the holiday weekend and everything, the official loan application wasn't submitted til 7/8/14.  In an effort to not have to move in with my mom (and bring my husband, 2 kids and very bouncy golden retreiver with me), we are trying to close on both houses the same day, 7/31/14...talk about nerve-wracking!!!  I can't wait til this "so nervous I might puke" feeling I've been having 24/7 finally goes away!

 

Purchase Price: $249,000
Property: Single Family - 1916 sq ft
Toured unit on: 07/02/14
Submitted Offer on: 07/02/14 (around 10:00 at night!)
Signed Purchase Contract on: 07/03/14 (negotiated for nearly 24h with seller)
Inspection: scheduled for 7/17/14 
Purchase Contract Addendums:
Final Contract: 
Final Earnest $ Received: 7/07/14 (due to holiday and weekend)

Type of Loan: 30 year fixed VA
Loan Rate: 3.75% (locked)
Appraisal: Pending...LO has ordered VA appraisal, and wil keep me posted
Loan Conditional Approval: Pending - just went to underwriting TODAY!  Yikes!!!!
Additional Conditions: Pending
Clear to Close:  Pending
Closing Date: Tentatively (per contract) 07/31/14
 
Frequent Contributor
Posts: 471
Registered: ‎03-05-2013
0

Re: July 2014 Closers

Coming down to the wire. I'm supposed to close tomorrow. On the phone with the Loan processor now.
 
Purchase Price: $324,500
Location: Conroe, TX (suburb of Houston)
Property: Single Family - 3264 sq ft
Toured unit on: 06/10/14
Submitted Offer on: 06/13/14
Signed Purchase Contract on: 06/14/14
Inspection: 07/08/14
Purchase Contract Addendums: 07/10/14
Final Contract: ?
Final Earnest $ Received: 6/14/14

Type of Loan: 30 year fixed VA
Loan Rate: 3.50%
Appraisal: 7/12/2014
Loan Conditional Approval: Pending
Additional Conditions: Pending
Clear to Close:  Pending
Closing Date: 7/16/2014
Last App March 23, 2015. Gardening until November 25, 2015
Current Score: 766 EX 734 EQ 780 TU 6/30/2015Starting Score/Goal Score: 580s/780s across the board
Regular Contributor
Posts: 242
Registered: ‎03-03-2014
0

Re: July 2014 Closers

jbrv, I can so relate to the, "so nervous I might puke", feeling. Hang in there, it will all be over before you know it Smiley Happy Keep us posted

Myfico: 03/26/2015: EQ 652, EX 680, TU 738 Barclays

Barclays $4.7K, NFCU Platinum $15K, AMEX BCE $15k, HD $12k, Sams $3.5k, Walmart MC $3.5K, NFCU LOC 10K, GE local Furn store $3.5k, AMEX ED $10.5K
Regular Contributor
Posts: 242
Registered: ‎03-03-2014
0

Re: July 2014 Closers

unc0mm0n1, Keep us posted!!!! We are also down to the wire in a suburb of Houston. Our builder told us today that the LO called her to say we would recieve final approval tomorrow!!!!!!!!!!!!!!! I am so ready to exhale, it's not even funny anymore. LOL. Anywho, let us know when you get your CTC so we can celebrate with you.  Sending positive vibes to all of July closers. 

Myfico: 03/26/2015: EQ 652, EX 680, TU 738 Barclays

Barclays $4.7K, NFCU Platinum $15K, AMEX BCE $15k, HD $12k, Sams $3.5k, Walmart MC $3.5K, NFCU LOC 10K, GE local Furn store $3.5k, AMEX ED $10.5K
Regular Contributor
Posts: 151
Registered: ‎05-12-2014
0

Re: July 2014 Closers

Wow jbrv! That is awesome! I hope it works out for you. I appd on 6-2 and got my pre qual. I got preapproval on 6/13 after sending all my paperwork in. Sent signed contract on 6/27. According to Mortgage Company, I officially went under contract 7/1. Initial closingon contact is on or before 8/21. Seller called last night to find out if we could move up to the end of the month. LO basically laughed at me and said no way!!! However conditional approval comes back tomorrow, appraisal is being scheduled tomorrow and that should be all we need. Might not get done by the 28th like I would like, but I don't think it will be much more after that!!! 

 

Good luck to you! Keep us updated! Oh what lender are you going through? Mine is also a VA loan. 

Frequent Contributor
Posts: 471
Registered: ‎03-05-2013
0

Re: July 2014 Closers

[ Edited ]

dreamer2014 wrote:

unc0mm0n1, Keep us posted!!!! We are also down to the wire in a suburb of Houston. Our builder told us today that the LO called her to say we would recieve final approval tomorrow!!!!!!!!!!!!!!! I am so ready to exhale, it's not even funny anymore. LOL. Anywho, let us know when you get your CTC so we can celebrate with you.  Sending positive vibes to all of July closers. 


Haha still haven't even recieved final approval. The builder has to send in one last thing. It's crazy because we close tomorrow. I am so tired of living in the Candlewood Suites with my wife a dog and a cat. Are you in the North burbs as well? I'm sending positive vibes your way too.

Last App March 23, 2015. Gardening until November 25, 2015
Current Score: 766 EX 734 EQ 780 TU 6/30/2015Starting Score/Goal Score: 580s/780s across the board
Frequent Contributor
Posts: 471
Registered: ‎03-05-2013
0

Re: July 2014 Closers


dreamer2014 wrote:

unc0mm0n1, Keep us posted!!!! We are also down to the wire in a suburb of Houston. Our builder told us today that the LO called her to say we would recieve final approval tomorrow!!!!!!!!!!!!!!! I am so ready to exhale, it's not even funny anymore. LOL. Anywho, let us know when you get your CTC so we can celebrate with you.  Sending positive vibes to all of July closers. 


I gave down to the wire a new meaning. I was approved at 11:15 for a 12pm closing. We pushed the closing back an hour to get all the paperwork signed and me and my wife picked the keys up yesterday after closing. While it was hectic trying to close a VA loan in 30 days, we made it. We're officially first time home owners!!!!!!!!!!!!!!!!!!!!

Last App March 23, 2015. Gardening until November 25, 2015
Current Score: 766 EX 734 EQ 780 TU 6/30/2015Starting Score/Goal Score: 580s/780s across the board
Regular Contributor
Posts: 242
Registered: ‎03-03-2014
0

Re: July 2014 Closers

Woohooo!!!!! CONGRATULATIONS!!!!! We have been getting questions and same documents requested repeatedly. My LO and processor are out tomorrow so no 30 days for me. We are also doing VA. Enjoy your new home.
Myfico: 03/26/2015: EQ 652, EX 680, TU 738 Barclays

Barclays $4.7K, NFCU Platinum $15K, AMEX BCE $15k, HD $12k, Sams $3.5k, Walmart MC $3.5K, NFCU LOC 10K, GE local Furn store $3.5k, AMEX ED $10.5K
Highlighted
Regular Contributor
Posts: 240
Registered: ‎11-29-2008
0

Re: July 2014 Closers


unc0mm0n1 wrote:

dreamer2014 wrote:

unc0mm0n1, Keep us posted!!!! We are also down to the wire in a suburb of Houston. Our builder told us today that the LO called her to say we would recieve final approval tomorrow!!!!!!!!!!!!!!! I am so ready to exhale, it's not even funny anymore. LOL. Anywho, let us know when you get your CTC so we can celebrate with you.  Sending positive vibes to all of July closers. 


I gave down to the wire a new meaning. I was approved at 11:15 for a 12pm closing. We pushed the closing back an hour to get all the paperwork signed and me and my wife picked the keys up yesterday after closing. While it was hectic trying to close a VA loan in 30 days, we made it. We're officially first time home owners!!!!!!!!!!!!!!!!!!!!


Wow, congratulations and enjoy your new home.   I'm waiting to hear about the appraisal on mine and haven't heard anything new in over a week.  The goal is to have the clear to close by Friday, July 25 and closing on July 31, so we will see what happens. 

Starting Scores TU 7/30/09 FICO 493 EQ 9/5/10 FICO 477 EX 11/14/2011 (lender pull) 575
Current Scores TU 5/31/2014 FICO 671 EQ 7/5/14 FICO 667 EX 5/31/2014 658 FICO
Goal Scores 700 across the board
Established Member
Posts: 31
Registered: ‎04-27-2011
0

Re: July 2014 Closers

Laura1369, we are using a local bank that just has a couple branches in town, but has a great reputation.  Our LO has been doing VA loans since 1998.  They just aren't very popular around where we live - a lot of banks here don't do VA at all - so I feel like we are in really good hands.  Day 4 of underwriting is today, and still silence.  I PDF'ed my paycheck stub from today, and am going to run and get a printout of our current balance from the bank to PDF and send as well, just to be proactive.  They haven't asked for it, but they probably will, so I'll be ahead of the game (sorta).

 

Had the home inspection yesterday - pest inspection guy showed up at the same time so both of those are done.  Found a couple things of concern so put it on the seller to see if they will be willing to initiate or help with any repairs.  Crack in the crawl space foundation, obvious painted-over water damage in the dining room ceiling (although the roof looks fine, so the roof may have been fixed but dining room was never properly taken care of - nothing in disclosures).  So we will see what they come back with.

 

As far as I know, all inspections/appraisals/requests for repairs have been submitted by our buyer and we've settled on all of it, so she should be good to go!

 

Still holding my breath and hoping we can do closings on both houses 7/31!

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.