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

Re: July & August Closers

We sent ours to Rural Development on August 9th, they were running about 10 days behind. We received our loan committment on August 20th, then the file went back to Underwriting for 24 hours and then Quality Review for 48 hours and we got the clear to close on Thursday, August 23rd. We are closing tomorrow - August 28th.

 

Contributor
seemund
Posts: 90
Registered: ‎03-29-2010

Re: July & August Closers

[ Edited ]

I think I can post here now...

 

  • Purchase Price:  $195.000
  • Property: Two Family
  • Submitted offer on:06/08/2012
  • Signed Purchased contract on : 06/12/2012
  • Type of Loan: FHA
  • Loan Rate: Not Lock yet...
  • Loan Application submitted:  07/2012
  • Loan approved: within the next 14 days
  • Closing date: Somewhere around 9/24/2012
  • Closed on: Pending

It was a short sale, it took the bank almost 3 months to give the ok. Now we're going for the appraisal, and I already got conditions from underwriting... So Hopefully everything will go fine with appraisal and we can close this sooner!

Edit2: Appraisal came back fine, no repairs needed. Closing will be defined, probably in the next 2 weeks. (Very HAPPY!)


Starting Score: 700
Current Score: 749 EQ / 760 TU
Goal Score: 760+


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Established Contributor
chan85
Posts: 544
Registered: ‎03-13-2011

Re: July & August Closers


chan85 wrote:

You guys don't know how long I have waited to post to this board! I contemplated waiting until AFTER I closed to post just because there have been soooo many speed bumps, but I have faith now that we are closing!

 

  • Purchase Price: $95,000 (shortsale)
  • Property: Two Story Townhouse, 2b/2b, 2 car garage, unfinished basement, and fenced back yard!
  • Submitted offer on: 5/29/2012
  • Signed Purchased contract on : 5/31/2012
  • Bank Accepted Offer: 6/29/2012? sometime around then lol
  • Type of Loan: FHA- GA Dream Home Ownership Down Payment Assistance Program ($5k towards down payment/closing costs)
  • Loan Rate: 3.50%
  • Loan Application submitted:  4/15/2012
  • Loan approved: Preapproved 4/20/2012
  • Committment letter received on: 8/17/2012
  • Closing date: 8/27/2012 (after moving closing twice from 7/30 and 8/15!) 3PM!
  • Closed on: PendngHouse_Picture.jpg.jpg 

UPDATE: CLOSED YESTERDAY WITH NO PROBLEMS!!

WM TransUnion- 650 (6/2014) Credit Sesame Experian- 691 (6/2014) Credit Karma TransUnion- 665 (6/2014)
Amex Zync/UNICORN- NPSL/Capital One Venture One Pro -$7,000/NFCU Cash Rewards- $7,500/NFCU NavChek- $5,000/SouthWest Airlines- $5,000/Capital One Quicksilver Platinum- $3,000/Wal-Mart Discover- $6,000/Bill Me Later- $2,200/JCP- $4,700/Discover IT- $500/Care Credit -$2,300/Old Navy Visa- $2,000/New York & Company - $1,000/Capital One -$800
GOALS: No new inqs until 10/30/14. Pay off debt consolidation loan in less than 1 year. Snowball debt payments.
Last HP: 3/5/14
Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012

Re: July & August Closers

Congrats!!!

New Member
lennonfamily
Posts: 5
Registered: ‎08-26-2012

Re: July & August Closers

UPDATE! We are approved by USDA and signing September 7th! It's been 3.25 months of waiting!!!
Established Contributor
JusdoNit
Posts: 921
Registered: ‎12-10-2011

Re: July & August Closers

[ Edited ]

LondonMassey wrote:

Purchase Price:  $55,000

Property: Two Story  4 bedroom 2 1/5 bath built in 2006

Submitted offer on: 3/9/2012

Signed Purchased contract on : 3/14/2012

Type of Loan: FHA Loan Rate: 3.75%

Loan Application submitted:  2/6/2012

Loan approved:  Pre-approval completed 2/6/12, accepted through DU 6/9/12, meet with Lender 6/18/12 to get file sent to a human for review

Close on: 7/23/12 also waiting for bank written approval to sale

 

Ughhhhhhhh it's a short sale...


Congrats and may those babies of yours be completely tuckered out from running up and down those stairs all last night! May they always appreciate everything their Mom went thru and sacrificed for them to have this joy. Again....SINGLE MOMS ROCK!:smileywink:


Starting Score: 722
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Goal Score: 800

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New Member
yank1
Posts: 3
Registered: ‎11-01-2013

Re: July & August Closers

hi, i read your journey towards homeownership and i have questions about GA Dream. was it difficult using Georgia Dream program, did the request a lot of document?

Established Contributor
chan85
Posts: 544
Registered: ‎03-13-2011

Re: July & August Closers

GA dream was good, I don't know if they ask for a lot of documents since I have nothing to compare it to, but I think it would probably be standard- w-2, pay stubs, bank statements, copies of taxes, stuff like that.
WM TransUnion- 650 (6/2014) Credit Sesame Experian- 691 (6/2014) Credit Karma TransUnion- 665 (6/2014)
Amex Zync/UNICORN- NPSL/Capital One Venture One Pro -$7,000/NFCU Cash Rewards- $7,500/NFCU NavChek- $5,000/SouthWest Airlines- $5,000/Capital One Quicksilver Platinum- $3,000/Wal-Mart Discover- $6,000/Bill Me Later- $2,200/JCP- $4,700/Discover IT- $500/Care Credit -$2,300/Old Navy Visa- $2,000/New York & Company - $1,000/Capital One -$800
GOALS: No new inqs until 10/30/14. Pay off debt consolidation loan in less than 1 year. Snowball debt payments.
Last HP: 3/5/14

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