@TXDevil wrote:
@Anonymous wrote:
@TXDevil wrote:How was your overall experience with UAMC? We were pre-approved and currently scheduled to close on our Village Home/Lennar on 9/30 upon completion of construction. 4 BR/3/5 BA in Dallas area. Any details/advice are greatly appreicated.
Thanks!
The experience was wonderful actually. As a worry freak I am, they handled it very well. Just keep in mind that what ever you sent them, you must have it label correctly for later use. They tend to ask the same documents were sent prior. (You must keep a record for yourself either way right?).
They don't work very well with my Realtor. They only work directly with you and you can share the information if you need.
Found out the hard way.
Good luck
Thank you very much! This is all helpful info. We've already changed loan officers and as you indicated, I've had to send duplicate information (prior tax returns, closing statement/HUD 1 from our previous house, proof of funds) but so far so good. Fortunately, I'm acting as my own realtor in the transaction so I'm not faced with that issue.
My last question: they just pulled our credit again (3rd time overall since initiating this process in October 2015) and while not an issue because we both have very good FICO scores, are they going to pull it again before closing? Quite frankly, I understand their need to ensure we are continually qualifified, I don't like all of the hard pulls. Thanks and any thoughts you have are greatly appreciated!
I think they pulled ours twice. 1 from the beginning and 1 from the rescoring after paying off some debts. That was it for us. Our score went up 10 points.
Congrats! I'm hoping to close on Aug.8th
$600 
$6500 
$30k 
16k 
12k VSiggy
@Anonymous wrote:
FHA has a downpayment of 3.5 minimum. Many people do have saving and down payments saved and simply choose to go FHA and keep their cash in their accounts. You seem very bitter about your interest rate, maybe you should shop your loan around and see what else can be offered by different lenders. People on this thread are finally getting their dream after a lot of hard work and it is really not cool to spew all over them because you got a higher interest rate.
Also bear in mind credit score is not the only factor in the loan and rate decision making.
Not bitter, just compared FHA vs conventional and I now understand why the my mortgage lenders said it would be best for me to go conventional on the last 4 homes including this next close on Aug.8th. Because my score and down payment always beats an FHA payment. I compared both loans on this next home and with a 3.25 rate vs my 3.75 rate I'm getting (hopefully it will be lower) and I get a lower monthly mortgage payment with my conventional, and with my 10 percent down and the house appraising 8k higher, pmi will drop off soon, then conventional will be even less than an FHA loan than it already is. I just always thought the rate on conventional loans were always better because people with better fico scores usually go conventional and thought rates were always better rates. I wasn't bitter, but shocked.