March 2015 CLOSERS!!!!

[Glenn_S]

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@Glenn_S wrote:

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@Glenn_S wrote:

Home Location: Eden Prairie, MN

Purchase Price: $202,000 (3% closing paid by seller - $6060.00)

Property: Twinhome - 1808 sq ft + garage

Submitted Offer on: 2/11/15

Signed Contract on: 2/12/15

Ernest (Deposit) Money:  $2100

Lender Name: Novation Credit Union/PHH Mortgage

Notes about Lender: Went through full underwriting prior to shopping. The only conditions are final validation of income, appraisal. Great to work with!

Type of Loan: Conventional 30 year fixed

Inspection: Scheduled for 2/17/2015 Completed successfully. 4 small items to correct! (Sellers agreed to fix all!)

Purchase contract addendums: 3% Seller paid closing costs

Loan Rate: 3.875%  - Locked

Mortgage Commitment Letter: Must be completed by 3/12/15

Appraisal Ordered: 2/18/15

Appraisal Scheduled: 2/24/15

Appraisal Completed: 

Went to underwriting: 12/5/14

Underwriting Complete: 1/13/15

Final Approval: 
Walk Through: 

Closing Date: Scheduled for 03/23/2015

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Woo-Hoo! Passed inspection with flying colors...next step is appraisal and locking the rate before my LO goes out of town Thursday.

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Another update. Sellers agreed to all fixes without question, and appraisal is scheduled for next Tuesday. Moving right along...

[frugalQ]

UPDATE TIME:

Appraisal came back yesterday...the home appraised 11,000 more than purchase price.  WOO HOO!!!!!

Home Location: Georgia

Purchase Price: $450,000

Property: Single Family home - 4,300 sq ft (6,000 sq ft including basement)

Submitted Offer on: 08/29/14

Signed Contract on: 09/06/14

Ernest (Deposit) Money:  $7,500

Lender Name: Academy Mortgage

Notes about Lender: Love, love, love my LO

Type of Loan:  80/15/5 conventional

Inspection: 

Purchase contract addendums:

Loan Rate: 4.250 (with no origination fee)

Application submitted: 08/15

Loan Processing: went through QC and straight to underwriting

Mortgage Commitment Letter:  2/6/15

Appraisal Ordered:  2/11/15

Appraisal Completed: 2/19/15

Went to underwriting: 1/26/15

Underwriting Complete: 2/6/15 received 1st round of conditions.

Final Approval: 
Walk Through: 

Closing Date: Scheduled for 03/19/2015

[Glenn_S]

Congrats, FrugalQ!

You will be closing the Thursday before us (Monday the 23rd). We'll ride through this and be homeowners soon !

[frugalQ]

thank you!  yes!!  it has been wonderful to share my journey here with others who are going through the same stresses.  My DH is wonderful, but he's not really into the financial side of it....he's all into the building side of it though.  as far as the financing goes, he just says 'tell me what i need to sign and when'.  lol

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Home Location: Newnan GA
Purchase Price: $155,000 (With sellers paying closing cost up to $4650.)
Property: House- ~2800 sqft
Submitted Offer on: 01/20/2015
Signed Contract on: 01/27/2015
Ernest (Deposit) Money: $1000
Lender Name: Brightpath Mortgage
Notes about Lender: Excellent... Loan Officer very helpful even on weekends.
Type of Loan: FHA 30 year fixed
Inspection: 01/29/2015
Purchase contract addendums:
Loan Rate: locked at 3.5%
Application submitted: Will be tomorrow (02/09/2015)
Loan Processing: 
Mortgage Commitment Letter:
Appraisal Ordered: 02/11/2015
Appraisal Completed: 02/18/2015
Went to underwriting: Been in underwriting but Im not sure the date....
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/09/2015

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I just wanted to update my post. We ordered the appraisal today - February 11th 2015. It cost $425 which was a surprise expense. For some reason I thought the appraisal fee was coming out of the closing cost. 

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I've been busy but here is a late update.....  Our appraisal was completed on 02/18/2015. It did appraised $2000 more than what we are paying for. I just recieved a list of final documents needed by the bank to complete the underwriting process. Hopefully we can have a final approval later this week. 

[Anonymous]

I'm hoping we get a clear to close by the end of March.  When that happens they will start improvements on the land and start building the house.

Home Location: Kerrville, TX

Purchase Price: $210,000 (Seller paying $12,600 closing)

Property: New construction on 1/2 acre

Submitted Offer on: 12/31/2014

Signed Contract on: 2/14/15

Ernest (Deposit) Money:  $1850

Lender Name: Cascade Financial

Notes about Lender: So far so good.  She answers me pretty quickly.

Type of Loan: USDA Guranteed 30 year fixed

Inspection:

Purchase contract addendums: 

Loan Rate: 4.375

Mortgage Commitment Letter: 

Appraisal Ordered: 2/27/2015

Appraisal Scheduled: 

Appraisal Completed: 

Went to underwriting: 

Underwriting Complete: 

Final Approval: 
Walk Through: 

Closing Date: 

[Glenn_S]

Txmomof3qts,

Ya ever go to The Lakehouse restaurant? A friend of mine owns it, Mark Armstrong.

If you get there, tell him Glenn from Minnesota says hey!

Glenn

[jfg1022]

I'm going to add myself to this list in faith since we have an accepted offer however haven't done inspection yet

Home Location: Nassau County, NY 

Purchase Price: $355K no conditions

Property: Single Family 1650 SQ

Submitted Offer on: 02/08/15

Signed Contract on: 2/20/2015 (seller signed 2/20 we signed 2/18)

Ernest (Deposit) Money:  $17750 our entire down payment

Bank: CHL direct lenders our broker has been good so far

Type of Loan: FHA 30 year fixed

Inspection: scheduled for 02/13/2015 went well few minor things the sellers estate are going to correct (GFI outlets and crack in walkway more for FHA appraisal)

Purchase contract addendums:

Loan Rate: 4.1% worst case per broker

Application submitted: 

Loan Processing: 

Mortgage Commitment Letter:  

Appraisal Ordered:  

Appraisal Completed: 

Went to underwriting: 

Underwriting Complete: 

Final Approval: 
Walk Through: 

Closing Date: Scheduled for 03/15/2015 updated to 3/31

Just updated some info..we are going to sign the application tomorrow. We went through full underwriting pre-approval before so I'm hoping we are good to go. Mid score for both of us is in the mid 640s. Praying everything continues to go as smooth as it has been so far..

Our GFE right now is estimated to be $21K. They said this is worst case scenario and I'm really hoping so because I don't want to deplete all of our savings..I had a #that I wanted to stay with in savings for renovations and reserves..does anyone know how many months of taxes they had to escrow? Our GFE says 8 months and that's what's killing us because our taxes are high $13K but I'm hoping it's less than that

[nycsimone]

ONLY 1 WEEK AWAY FROM CLOSING!!!!!

Home Location: Charlotte, NC
Purchase Price: $183,750 no conditions
Property: Townhome - 1880 sq ft
Submitted Offer on:
Signed Contract on:
Ernest (Deposit) Money: $1,605
Lender Name: Wings Financial CU
Notes about Lender: Lowest rates i've seen on the market. Easy to work with.
Type of Loan: 10/1 ARM (30 year)
Loan Rate: 2.5% (not a mistake)
Final Approval: 02/14/15
Closing Date: 03/03/15

[frugalQ]

go nyc!!!!  woot woot!!!!!