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Regular Contributor
Posts: 184
Registered: ‎02-24-2017

Re: Let get this home building on the way

Scheduled our pre construction meeting today. Still anxiously awaiting underwriting to provide approval.
Regular Contributor
Posts: 184
Registered: ‎03-30-2015
0

Re: Let get this home building on the way

Congratulations!

Frequent Contributor
Posts: 436
Registered: ‎09-30-2016

Re: Let get this home building on the way

Tentative dates communicated:  walk through: May 16  closing: May 23


In second year post 13 DC (12-28-15)
Entered garden 05-19-2017 CLOSED ON MY NEW HOUSE 5/17/17!!!!

Current Scores FICO 8: 690/707/711 FICO 5/4/2: TU738 EQ732 EX697 Updated: May 17, 2017
Goal: 750's across the board
Frequent Contributor
Posts: 368
Registered: ‎03-13-2017

Re: Let get this home building on the way


juniebrunner wrote:

Tentative dates communicated:  walk through: May 16  closing: May 23


Go Junie!! So excited for you. 

 

We have an appointment on Saturday to sit down with the builder and lender to finalize floor plans and costs. So when we walk away on Friday, we should have an updated Loan Estimate.

 

We aren't going to underwriting until June according to the lender. I keep checking the state website that gives updates on permit approvals, and ours is not yet approved. I'm assuming this means they can't pour foundation until then?  

FICO8 Scores - 608TU / 616EQ / 600EX
On Mortgage Journey
Starting Mortgage Scores (Feb 17) 523EQ / 547TU / 564EX
Mortgage Scores (May 17) 595EQ / 625TU / 616 EX
June 17 602EQ / 626TU / 633 EX
Frequent Contributor
Posts: 436
Registered: ‎09-30-2016
0

Re: Let get this home building on the way

Yeah the permit is needed to pour.   When mine were approved, they graded and we were off and running.  One day the lot was graded, the next they were framing for the foundation.  It was VERY quick at least with my builder. 

 

I don't get why no UW until June though.  Thats weird to me.  I was in UW my first week of making loan app.  Of course I just went through it again but with new construction I think thats normal.


In second year post 13 DC (12-28-15)
Entered garden 05-19-2017 CLOSED ON MY NEW HOUSE 5/17/17!!!!

Current Scores FICO 8: 690/707/711 FICO 5/4/2: TU738 EQ732 EX697 Updated: May 17, 2017
Goal: 750's across the board
Frequent Contributor
Posts: 368
Registered: ‎03-13-2017

Re: Let get this home building on the way

I think I'm explaining it wrong lol. 

 

We originally applied with my husband only, and underwriting gave him a "Refer" because his DTI was 55%. The lender then recommended I be added to the loan, but I have some things to take care with my credit. 

 

Just like you, our reports will expire. So the next hard pull will come in June, where we will also lock our rate in. Soft pull will be seven days before closing. 

FICO8 Scores - 608TU / 616EQ / 600EX
On Mortgage Journey
Starting Mortgage Scores (Feb 17) 523EQ / 547TU / 564EX
Mortgage Scores (May 17) 595EQ / 625TU / 616 EX
June 17 602EQ / 626TU / 633 EX
Regular Contributor
Posts: 184
Registered: ‎02-24-2017

Re: Let get this home building on the way

Well got conditional approval today! They didn't need much. Wanted LoE for my my last house, why no payments showed for the year before it sold. Pretty simple, after the discharge Wells Fargo didn't report payments. Then they needed closing disclosure to confirm house was not a short sale. Already sent both back in, processor says should have full approval early next week.
Frequent Contributor
Posts: 368
Registered: ‎03-13-2017

Re: Let get this home building on the way

Had our meeting to finalize our floorplan today. Was told construction timelines are moving ahead of schedule, so our construction is set to start in 2 weeks!

 

I also asked about the pre-construction meeting, and apparently with this builder, it's common to lay the footers and pour the foundation slab before having the pre-construction meeting. 

 

We are looking at mid to late August for closing! The builder told us the houses that were just framed last month will be finished in 75 days! That is sooo fast!

FICO8 Scores - 608TU / 616EQ / 600EX
On Mortgage Journey
Starting Mortgage Scores (Feb 17) 523EQ / 547TU / 564EX
Mortgage Scores (May 17) 595EQ / 625TU / 616 EX
June 17 602EQ / 626TU / 633 EX
Regular Contributor
Posts: 184
Registered: ‎02-24-2017

Re: Let get this home building on the way

Full approval today, pre construction meeting in the morning. Can't wait to get rolling
Frequent Contributor
Posts: 436
Registered: ‎09-30-2016

Re: Let get this home building on the way

Y'all the mortgage company contacted my insurance today to get the binder!!!!!  This is REAL!


In second year post 13 DC (12-28-15)
Entered garden 05-19-2017 CLOSED ON MY NEW HOUSE 5/17/17!!!!

Current Scores FICO 8: 690/707/711 FICO 5/4/2: TU738 EQ732 EX697 Updated: May 17, 2017
Goal: 750's across the board

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