07-03-2014 11:10 AM - edited 07-03-2014 11:34 AM
hopingtogetahouse wrote:Purchase Price: $224,720Property: Single Family - 2425 sq ft
Toured unit on: 05/03/14
Submitted Offer on: 05/04/14 and then into negotiations until 5/19/14
Signed Purchase Contract on: 05/19/14
Purchase Contract Addendums: noneFinal Contract: 5/20/14Final Earnest $ Received: 5/20/14
Type of Loan: 30 year fixed VA
Loan Rate: 4.25%
Appraisal: 6/3/2014 came in above purchase price!Loan Conditional Approval: 6/07/214Additional Conditions: none
Clear to Close: 7/3/2014 (updated)Closing Date: 7/17/2014 (updated)
Got Clear to Close today!
07-03-2014 11:50 PM
Purchase price 275000
interest rate 3.875
found house 5/21
made offer 5/22
accepted offer 5/23
appraisal came in at 284000!
closed July 1st
recorded July 2nd
07-05-2014 01:38 PM
07-05-2014 02:32 PM - edited 07-05-2014 02:33 PM
Here's my 4th Update (Hopefully only 2 left, CTC, and close!)Purchase Price: $199,900 $190,000 :-)
Only one more update left after this!! Alot of drama but it came together in the end!!! Clear to close given today and closing is scheduled for tomorrow at 3:00pm!!
Best of luck to everyone!!
Sorry for the late update!! Closed on July 2nd, 2014!!!!!! It's finally over!!!! Now the fun begins. So, since we want to paint and put floors down, I decided to ask for an increase on my HD card. Of course it was a hard pull, but well worth it. Credit limit went from $2000 to $8800. I asked for a $6000 increase! Time to go shopping!
We decided to also apply for a Rooms to Go card since we want some new furniture. Approved for $8000.00.
A am definately ready to go shopping!!
Best of wished to everyone still going through the process!
Congrats to everyone who has already closed!!
07-05-2014 03:28 PM
Purchase Price: $148,500
Property: Single Family - 1556 sq ft
Toured unit on: 06/20/2014
Submitted Offer on: 06/28/14
Signed Purchase Contract on: 06/28/14
Purchase Contract Addendums: None yet
Earnest Money given 6/28/2014
Type of Loan: 30 year fixed FHA Loan Rate: 3.99 locked
Appraisal: Pending (the appraisal company is behind, but the deadline is 7/15/2014)
Loan Conditional Approval: 7/2/2014
Closing Date: Tentative...07/31/14
All this after I had made an offer on another house that was accepted, but after the inspection it needed too many repairs for me--a new roof among other things, so I cancelled that contract. This process has been fairly easy, but stressful nonetheless. I have partial retirement annuity income, partial part-time employment from a school district that cannot be used since I have only been working there one year, and self-employment income for the last 2 1/2 years where I am an independent contractor with another school district. They have asked for a lot of documentation regarding my self-employment like the last 2 years of income tax returns with all schedules, a year to date profit and loss statement and a balance sheet which I didn't even know what these were until this process, but so far everything is o.k. I think, but I don't have a name for my business, I just turn in an invoice each month with my name and address and they cut me a check. Hopefully everything will go smoothly until we close on July 31!
07-05-2014 05:10 PM
I use waveapps.com for my self-employment. You can print off any reports needed, for free! This came in handy when my first lender, who bombed my first loan, asked for my balance sheet and other docs.
07-11-2014 07:38 AM
A few updates and a Clear to CLOSE!!!!
Purchase Price: $282,500
Property: Single Family - 2428 sq ft
Submitted offer on: 6/6/2014 (back up offer as first offer had contingencies and we had none)
Signed Purchase Contract on: 6/10/2014 (lot of negotiations and it was an estate sale)
Final Earnest $$: 6/13/2014
Type of Loan: FHA 30 year fixed (back to work program)
Loan Rate: 4.125 locked today
Appraisal: Good - came in at $285,000
Loan Conditional Approval: 6/6/2014 (full preapproval through underwriter)
Additional Conditions 7/7 & 7/8: LOE deposits, copies of deposit slips, copy of cell phone bill (to prove the $100 deposit is from my mom paying her portion on our plan), Sign copy of housing counseling certificates
Clear to Close: 7/10/2014
Closing Date: 7/31/14 or sooner
07-11-2014 10:06 AM
07-14-2014 08:31 AM - edited 07-16-2014 01:08 PM
07-14-2014 05:00 PM - edited 07-17-2014 06:35 PM
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.