May 2015 Closers

[Anonymous]

Didn't see a thread yet. Closing scheduled for May 16 at 1:00 PM.

[SashaDixon]

Closing May 1!!!! Never thought we would get there!!!!

[nuggets321]

Home Location :  Walsenburg, CO

Purchase Price : $ 125,000

Property : Single Family detached 2005sqft  / 2654 (incl basement)  +  attached 1-car garage

Submitted Offer : April 2 , 2015

Signed contract : April 2, 2015

Earnest Money : $ 1,000

Lender Name : Freedom Financial Services/ Mortgage Solutons of Colorado

Notes about lender : Only that my particular loan officer is a VERY good communicator and replies to everything 7 days/wk within 15 mins

Type of Loan : USDA GUARANTEED

Loan Rate ; Locked 4-6-2015 @ 3.875

TIL (truth in lending) sheet / GFE (good faith estinmate)/preilimary docs received 4-06-15

Appraisal was ordered 04-19-2015

Appraisal performed 04-24-2016

Appraisal completed and sent to clearinghouse : 4-30-15

REINSPECTION for corrected items completed and updated appraisal sent 5-8-15

Lender access to appraisal and buyer received copy : 5-1-15  *** Update 5/3 : see that the lender "soft pulled" credit on all 3 bureaus

** DEAD IN THE WATER AND LOAN SHUTDOWN DUE TO NO 5/8" drywall in garage and seller wont repair.... USDA Guaranteed Loan R.I.P ( glad loan processor caught it before it wasted another week in UW )

Sent to underwriting : pending

Closing Date listed on contract : May 14, 2015

Mortgage Scores per Lender :  Experian 693  EQ 697  TU 721

Derogatories on reports : Zero / No lates / No collections /

* Initally pre-approved having gone through full buyer underwriting in February, 2015 BUT not able to find a  suitable home until now.... Appraisal ordering and assignment has pushed the closing too close for comfort.....

[Anonymous]

Home Location :  Louisville, KY

Purchase Price : $ 122,500

Property : Single Family 1252 s.f. with 650 s.f finished basement

Submitted Offer : 3/15/15

Signed contract : 3/17/15

Earnest Money : $ 500.00

Lender Name : First Rate Mortgage/Mortgage Solutions of Colorado

Notes about lender :Knows her business well.

Type of Loan : FHA

Loan Rate ; 4.25% may change 4.0% Yay!

TIL/GFE/preilimary docs received 4-03-15

Appraisal was ordered 04-9-15

Appraisal performed 04-14-2015

Appraisal completed and sent to clearinghouse : 4-14-15

Sent to underwriting : pending update-cleared underwriting and waiting on final approval pending appraiser re-inspection of fha repairs

Tentative closing : May 4, 2015

Down to my last week I hope.  Waiting for FHA re-insepction then off to UW for final approval and waiting to hear those magic words, CLEAR TO CLOSE!!!!!  FINGERS CROSSED!

[peepers]

So happy to be able to post in one of these finally!  Good luck to all still in "CLC limbo"

Home Location :  Des Moines, IA

Purchase Price : $197,500 plus $3500 towards closing cost/fees/etc

Property : Single Family 2 story + finished w/o basement.  4 bedroom, 3 bath, attached 2 car garage

Submitted Offer : May 7th , 2015 (day after pre-approval from lender)

Signed contract : May 8th, 2015

Earnest Money : $ 1,000

Lender Name : First Mortgage Company

Notes about lender : Fabulous

Type of Loan : VA...funding fee waived due to husbands partial disability.  No PMI

Loan Rate ;  3.75%

TIL/GFE/preilimary docs received not sure what this is??

Appraisal was ordered 04-14-2015

Appraisal performed 04-16-2015

Appraisal completed and sent to clearinghouse : pending.  should be by this Wednesday

Sent to underwriting : last week

Tentative closing : May 19th,, 2015

[Anonymous]

Home Location :  Northwest Georgia

Purchase Price : $48,900

Property : Single family 1930s bungalow, ~900 sq ft. (there are only two of us and it's so cute)

Submitted Offer : 3/8/15

Signed contract : 3/11/15

Earnest Money : $ 350

Lender Name : United First Community Bank

Notes about lender : my LO is amazing

Type of Loan : FHA-backed 30-year fixed state first time home-owner program

Loan Rate : 3.875% first mortgage, 0% APR on $7500 second mortgage (DPA, only paid back if house is sold or refinanced.)

Application submitted : 3/13/2015 

Inspection : completed 3/12/2015, seller agreed to fix most minor things, will not replace missing window screens (lol)

TIL/GFE/preilimary docs received: 3/16/15

Appraisal was ordered 3/23/15

Appraisal performed 3/26/15

Appraisal completed and sent to clearinghouse : 3/31/15

Loan processing: 3/27/15

Sent to underwriting : 4/13/15

Underwriting complete : conditional approval from lender 4/20 (closed 2 credit cards); sent to state office for 2nd underwriting 4/22

Mortgage Commitment Letter:  

Final Approval: 

Walk Through: 

Closing Date: 5/29/15 on contract, we'll see!

Since we're doing the paperwork intensive state first-time homeowners program, LOTS of extra time was built into the contract for it to clear their second underwriting process, where it is right now. LO thinks we should be able to close early, but we don't need to. Our current apartment is rented for June 1, so we just need to be out by 5/31. Praying for no delays. 

[QueenBeeOC]

I was waiting for this thread. 
 
Home Location :  Orange County, CA
Purchase Price : $ 538K
Property : Single Family detached 
Submitted Offer : April 6th
Signed contract : April 7th
Earnest Money : $ 16,260
Lender Name : Mortgage Master aka Loan Depot
Notes about lender : Very happy! Super helpful even in my crazy moments
Type of Loan : FHA
Loan Rate ; Locked 4-16-2015 @ 3.375
TIL (truth in lending) sheet / GFE (good faith estinmate)/preilimary docs received 4-16-2015
Appraisal was ordered: This has been the biggest challenge, previous buyer was in escrow and the FHA case number was attached to their lender, waiting for appraisal to come back today or tomorow.
Appraisal performed Not Sure, they were going to pull more comps
Appraisal completed and sent to clearinghouse: Waiting
Sent to underwriting : Last week, have a few conditions to meet
Tentative closing : May 7th - when my husband is out of town. But hoping to sign loan docs this Friday before he leaves

[planoser]

Can everybody please post their mortgage scores so we know what score got you the rates listed. That would be a huge help for others, IMO.

[Anonymous]

EX 653 TU 669 EQ 638 

My husband's are way higher (713, 727, 707)  but I am the employed one (he's a full-time student) so my middle score counts. We needed a midscore of 640 to be eligible for the Georgia Dream program. My rate was set by the Georgia Department of Community Affairs and is the rate for all Georgia Dream loans with down-payment assistance (if you only take the first mortgage, it's 3.625%), regardless of credit score.