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Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011
0

Re: July & August Closers

:smileywink:Ain't no stoppin us nowMan


Starting Score: 722
Current Score: Now 687 what the hockey sticks...from a 784 (Aug 12 EX 751 EQ Fico)
Goal Score: 800

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Valued Member
Lillisum
Posts: 68
Registered: ‎07-12-2012
0

Re: July & August Closers

Well closing is scheduled for Monday at 1pm.  We don't have a clear to close yet.  I was suppose to get it yesterday, but apparently some underwriters were on vacation and one was sick and they were behind.  So, i'm suppose to hear something today.  I hope I do, because if I don't, we have to push close day again and then it will  be past our contract date (which is Monday).  Loan Officer seems to think we are good, so i'm trying not to stress.  But really, who am I kidding?  I haven't stopped stressing since the second I got a pre-approval letter.  I will be SO happy when I have the keys in my hand.  :smileyindifferent:

Frequent Contributor
Razeus
Posts: 395
Registered: ‎04-02-2012
0

Re: July & August Closers

I closed yesterday, keys are in hand.  All in the face of companies telling us we'd never get approved and we need to be at least 640 credit score, possibly even higher.  Mortgage people actually turned us away, but I stayed focused and tried the big banks of Wells Fargo and Chase.

 

A beautiful 2-story home, 2973 sq. ft on a 12,554 sq. ft lot.

 

Price: $172,000

FHA, 3.5% down

Lowest credit score: 624 with EQ

Interest rate: 3.625%!!!

Household income:  $120k

Lender: Wells Fargo Home Mortgage

Approved with flying colors and no issues in underwriting.

 

I was for sure something was going to go wrong at the last minute.  But the wife and I just sat in our new home, eating take-out, planning how we are going to decordate and furnish a 3,000 sq. ft. home, when coming from a 700 sq. ft. apartment.

 

It can be done.  Just got to find the right lender.  And to top it off, I got a ton of credits from the lender and basically what I thought would be about $10k in closing costs and down payment, only came out to $5200 "cash from borrower".  

 

Life is good. :smileytongue:

My Wallet:
Discover It $14,300 | Chase Sapphire Preferred $7,500 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
Valued Member
Lillisum
Posts: 68
Registered: ‎07-12-2012
0

Re: July & August Closers

One more day! Praying it all goes smoothly.

How is everyone else?
Frequent Contributor
Razeus
Posts: 395
Registered: ‎04-02-2012
0

Re: July & August Closers

It feels good sleeping in your own home folks!

My Wallet:
Discover It $14,300 | Chase Sapphire Preferred $7,500 | Chase Freedom $5,000 | Citi Simplicity $5,000 | AMEX BCE $3,000 | Paypal Extras Platinum $5,000 | Wells Fargo $1,000 | AMEX Zync NPSL
New Contributor
PRC
Posts: 68
Registered: ‎04-16-2012
0

Re: July & August Closers


PRC wrote:

I finally found THE house!

 

  • Purchase Price:  $271,000
  • Property: Two Story
  • Submitted offer on: 5/12/2012
  • Signed Purchased contract on : 5/12/2012
  • Type of Loan: FHA
  • Loan Rate: 3.75%
  • Loan Application submitted:  5/29/2012
  • Loan approved: 5/30/2012
  • Committment letter received on: Pending Receipt
  • Closing date: Somewhere around 8/10/2012
  • Closed on: Pendng

Building a new home with Highland Homes, who we got to provide a 1% interest reduction, over 20,000 in upgrades, and $6000.00 towards closing!

 

The original price was (with upgrades) 295,000 Love buidling with free upgrades.... Pics to come soon


Update... CTC and scheduled for this Friday at 10:00 AM so excited...I don't know how to load the pics but once I figure it out I will load them

 

Established Member
HumbleLobster
Posts: 20
Registered: ‎05-09-2012
0

Re: July & August Closers

Well, got my clear to close this afternoon.  Just under the wire, as my closing is 3pm tomorrow.  Bank is wiring funds to escrow at 8am, then I get to be antsy all day before I head over there.  Thanks to this forum for helping me along the way!


Starting Score: TU: 767 EQ: 727 EX: ?? (5/10/12)
Current Score: TU: 745 EQ: 736 EX: 793 (7/11/12 Lender Pull)
Goal Score: 800


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Valued Member
Lillisum
Posts: 68
Registered: ‎07-12-2012
0

Re: July & August Closers

Another August Home Buyer has closed!  We closed Monday at 1pm and it FEELS SO GOOD!  I love my new house.  LOVVVVVVVVVVVVVVVVVE IT.

 

Good luck to everyone else!

Member
shnn18
Posts: 26
Registered: ‎08-09-2012
0

Re: July & August Closers

 I finally found THE house!

 

  • Purchase Price:  $178,000
  • Property: 2001 Cape Cod on 10 acres with a pond, 1.5 story
  • Submitted offer on: 6/6/2012
  • Signed Purchased contract on : 6/8/2012
  • Type of Loan: Rural Development
  • Loan Rate: 3.75%
  • Loan Application submitted:  7/6/2012
  • Loan approved: 8/9/2012
  • Committment letter received on: 
  • Closing date: 8/31/2012
  • Closed on: Pendng

 

The house was originally listed at $ 215,000.00. The day we went to see it, they had lowered it to $199,000.00 and while we were looking the realtor got a phone call and was told they were submitting to lower the price to $183,000.00. We were excited, placed our offer right there and have been on the journey ever since. It was a bit bumpy through Underwriting because we either had to sell our manufactured home for the loan just to go in my husband's name or my credit score had to come up to have me added onto the loan.

Valued Contributor
GoodCredBen
Posts: 1,533
Registered: ‎10-25-2011
0

Re: July & August Closers


FairCredBen wrote:

There wasnt one yet, so i have created one. Please use the template below.

 

I finally found THE house!

 

  • Purchase Price:  $153,000
  • Property: Two Story (See pics)
  • Submitted offer on: 6/3/2012
  • Signed Purchased contract on : 
  • Type of Loan: FHA
  • Loan Rate: 3.50%
  • Loan Application submitted:  5/29/2012
  • Loan approved: 5/30/2012
  • Committment letter received on: 
  • Closing date: 7/20/2012
  • Closed on: Pendng

Traditional seller, who we got to provide a 1 year home warranty AND provide 3.5% towards closing!

 

The original asking price was also 179,900..... we got them down A LOT lol......

 


 

 

Well we have been in the house just about 3 weeks now (had to do some demo/remodel before we moved in) and i have to say, owning a home is EPIC!!!!! 

 

I apologize for not being around, but as i am sure that everyone who just purchased a home has experienced.... we still have a LOT to do!!!!

 

We completely ripped up carpet and put down better (new) carpet .... Empire Today gets an A+ rating!!! 

 

There was a black and red splatter painted room that we completely repainted a nice cuppacino and white color....

 

We also painted in all of the closets and halways and stairwells since they were ugly eggshell color that looked like a smoker had lived in the house for 50 years (they werent smokers, just looked like they had never painted before LOL)

 

As a little present to ourselves, we went and bought a brand new master bedroom set :smileyvery-happy:

 

Life is GOOOOOD!!!!

 

Good luck to all of you buying right now!! 

----- IF you find my post helpful, Select the star in the KUDOS button! :smileyhappy:
Starting Score: 512 10/2011 Current Score: EQ: 686 | TU: 689 | EX: 661
In My Wallet: SFCU Visa: $10,000 | UECU Visa: $5000 | WellsFargo: $3900 | Cap1 QS: $3500 | Cap1 QS: $3000 | Cap1 AU: $1750
Gardening Since: 6/1/2014
May the debt elimination begin! 9680/27150

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