June Closers!!

[tammyjk]

Breedo, the audit ?  I think you mean quality control....That usually only takes a few hours to 1 day.  It is just the dept that makes sure all of the paperwork is done properly.  For me, it ment having to find the reciept for the appraisal which got lost in the shuffle.  I emailed it and done in 20 min.  Nothing to worry about.   In my case, conditions were cleared Wed evening and it was out of quality control by 1 the next day.  My closing is set for Tuesday.

[CreditJim]

That must be what he meant Tammyjk. Glad to hear it doesn't usually take long. The only other condition was that they wanted my only bad account, an old charge off from 2008, settled. I was told to get paperwork / a letter from BoA to bring to closing and the title company would mail them a check. BoA being BoA wouldn't fax me a letter without setting up a payment. I checked with the title company then set up a payment for today to completely settle the acount with BoA (it was only $510) and BoA have promised they will fax a letter on Monday confirming that a settlement has been offered and a payment setup. Now I just have to cross everything that this will satisfy my lender at closing, and they won't want to wait to receive final confirmation, which BoA said could take about 11 days. Even more stressed and nervous now for Tuesday!

[tammyjk]

If you have any sort of old bill from BOA that should work.  As long as you can prove the amount owed and to whom you should be good to go.  Believe me they will tell you asap if you need more docs to close. 

[cmay0705]

We closed on Friday with no issues.  An interesting timeline with our interest rate, however.  These are all with our lender covering $2,500 in closing costs.  We didn't need any money at the closing table and actually got a check back for $500:

Got pre-approved late March at 3.671%

Locked in mid-May at 3.397%

Interest rate reduced to 3.281% the day before closing, which our lender reduced our rate to

Our lender has said this is the best rate she's seen on USDA Guaranteed, especially with her covering some closing costs. 

[c82wright]

I finally closed today! On Friday there were some problems with my APR being too high according to some law called HOEPA. By the time that got straightened out it was late in the afternoon and too late to close. I started ordering furniture today for one of my extra bedrooms that I'm going to rent out because I already have a tenant. I can't believe that I bought a house!!

[tammyjk]

We finally closed!!!!  I am so glad that is over and life can get back to normal now.  I won't know how to act when I can deposit money without documenting it to someone. 

[sarios1]

This has been horrible. I gained about 20lbs of worry. All for nothing. I applied for a loan in February. I was pre-approved in March. Offered on a house in April. Was going to close on May30th, but didn't get the clear to close until June 21st.  And I closed and funded yesterday by 330pm. Really, really long process. And I don't have the will or desire to go through that again for a very long, long time.

[CreditJim]

I ended up closing yesterday. Can't quite believe it. A lot of work, but by reading these forums for months and being prepapred and responding to all questions and conditions quickly I managed to close in less than a month after putting in an offer. Very pleased with my first ever house and no more throwing money down the drain renting!

[foofighter74]

Congrats everyone!

[dave_csu]

Closed yesterday!!

Also, received a surprise, up until hours before closing my closing costs still needed was about $980, however, found out right before that was incorrect and it was $149!!! Extra $800 in pocket due to fees being less than projected!!

Went from a 599 mid score to 664 and a home owner in exactly 3 months!! What a roller coaster!!