Reply
Valued Contributor
Posts: 1,540
Registered: ‎10-25-2011
0

Re: July & August Closers

5 days until closing for me!!!! SCARY!!!!

----- IF you find my post helpful, Select the star in the KUDOS button! Smiley Happy
Starting Score: 512 10/2011 Current Score: EQ: 686 | TU: 689 | EX: 690
In My Wallet: SFCU Visa: $10,000 | UECU Visa: $5000 | WellsFargo: $3900 | Cap1 QS: $3500 | Cap1 QS: $3000 | Cap1 AU: $3250
Valued Member
Posts: 68
Registered: ‎07-12-2012
0

Re: July & August Closers

I didn't see this thread before. 

 

  • Property: 1870 sqft, single family home, 4 bedrooms, 2 baths,  and a game room
  • Submitted offer on: July 8
  • Signed Purchased contract on :  July 11
  • Type of Loan: FHA
  • Loan Rate: 3.75%
  • Loan Application submitted:  7/12/2012
  • Loan approved: Pending
  • Commitment letter received on: Pending
  • Closing date: On or Before August 13, 2012
  • Closed on: Pending

My paperwork is with the underwriters right now.  My LO called me on Friday and asked for some letters explaining how many kids I have and their age (weird?), why my annual income was less in 2011 than in 2010 (bonus was more in 2010 than 2011) and why I paid my current landlords mortgage directly to wells fargo (she lives in a different country and it was just easier). 

 

How many times do they come back asking for things?  My LO said that the processor was asking for that?  What happens after it is with the processor?  Is the processor the underwriter?

Frequent Contributor
Posts: 428
Registered: ‎01-21-2012
0

Re: July & August Closers


Hammer23 wrote:
No response from USDA today. Day 29 of waiting.

Got my response back Friday... APPROVED w/ one additional condition - had to do with the WDI inspection. Realtors and the loan guy went to war, I wound up having to spend another $80 and hopefully we will close this week. I am sooo going to need a drink when this thing finally closes! 

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700
Frequent Contributor
Posts: 291
Registered: ‎02-25-2012
0

Re: July & August Closers

We're "mail away" closing on Friday!

 

We were in UW for 36 hours and at the USDA for 7 business days!

 

We had already asked for an extension to the 31st due to the backlog, but we got lucky! Our only condition out of UW was our insurance binder (which we already had in order, just waiting to bind it!)

 

Everything should be sent out to us tomorrow and we have a notary ready to go for Friday.

2/24 (Lender Pull) EQ 613, TU 553, EX 589
April EQ 633, My Fico TU 638, EX ??
Current EQ 643, TU 652, EX 633 (lender pull 5/11)
Goal (we made it!!)- Over 640 middle by 5/15
Valued Member
Posts: 117
Registered: ‎01-05-2012
0

Re: July & August Closers

Yay!!!!! Congrats to you!!!! Smiley Very Happy
Established Member
Posts: 29
Registered: ‎11-23-2010
0

Re: July & August Closers

[ Edited ]

Guys, I will be closing around July 30th. Awaiting on an exact closing date from seller's agent

 

  • Property: 1400 sqft, Condo with 2 car garage, Finished basement,2bdroom,2.5 bath
  • Listed Price: $109K Offered Price: $105K (offer accepted)
  • Appraised at : $95K
  • Seller finally agreed on $97K

 

  • Submitted offer on: June 12th
  • Signed Purchased contract on :  June 20th
  • Type of Loan: Conv
  • Loan Rate: 4.12%
  • Loan approved: Yes
  • Commitment letter received on: Pending
  • Closing date: On or July 30th 2012
  • Closed on: Pending
Valued Member
Posts: 117
Registered: ‎01-05-2012
0

Re: July & August Closers

Yay BrownHorse!!!!! Smiley Happy Congrats and enjoy your new house!!! Smiley Happy
Valued Member
Posts: 41
Registered: ‎04-23-2012
0

Re: July & August Closers

I had a pretty long delay with USDA, too.

 

Submitted file to USDA on June 14th. Received clear to close on July 11. It's taking 3-4 weeks, which is what my LO warned. I guess it's the busy season... 


Starting Score (4/2012): 593 EQ
Current Score (6/2012): 666 EQ, 661 TU04, 688 EX
Goal Score: 750


Take the FICO Fitness Challenge
Established Member
Posts: 29
Registered: ‎11-23-2010
0

Re: July & August Closers

[ Edited ]

Hey HC

 

Looks like i am not going to be closing in July. Just got another disappointing call from my loan officer. Now they're having hard time approving my loan because appraisal came in very low. they want me to put down $15k down payment plus closing cost plus 4 months of reserve in the bank (since its Conventional Loan).

 

Loan Officer is going to rebut the appraisal and see if he can bring it up in order to approve my loan. Another 2 to 3 days of waiting for loan approval... Condo I am buying is not FHA approved so have to go with this stupid conventional loan. So damn stressed. Sorry about the language

Frequent Contributor
Posts: 428
Registered: ‎01-21-2012
0

Re: July & August Closers

FINALLY CLOSED!!!

 

  • Purchase Price:  $161,500
  • Property: Two Story
  • Submitted offer on:5/17/2012
  • Signed Purchased contract on : 5/22/2012
  • Type of Loan: USDA
  • Loan Rate: 3.75%
  • Loan Application submitted:  5/23/2012
  • Loan approved: 6/14/2012
  • Committment letter received on:6/14/2012 
  • Closing date: Scheduled for 6/27/12 will be delayed into July due to USDA backlog
  • Closed on: 07/18/2012!!!!! Smiley Very Happy
  • Loan was sent to USDA on 6.14.2012. USDA is running 18 business days behind! This puts us to about the 10th before it even gets looked at at the USDA! I have to be out of my apartment on the 7th no later! This is going to be interesting!

 

WF Home Projects Visa $8500 / Towpath CU Visa $7000 / Chase Freedom Visa $5500 / Cap 1 QS Visa Sig $5000 / Barclaycard Ring MC $5000 / GE Lowes $5000 / Citi Best Buy MC $4250 / Barclaycard Rewards Visa $4000 / BFG CU Visa $3500 / Citi Sears$3000 / WF Visa $2000 / GE Walmart $1900 / GE Care Credit $1900 / GE Amazon $1400 / Cap 1 Kohls $1000 / GE Old Navy $800 / Webbank Fingerhut $700
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.