May 2017 Closers

[Anonymous]

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@Calidreaming wrote:

Congrats to all of you--Junniebruner, cmony787, gabeincal!!!  You all are so close to being in your new homes!!!  I am still in mortgage hell waiting for that clear to close.   We need to come up with an additional $750 in closing costs, which we can do--but all the documentation requirements are scary.  I am afraid at any minute the deal will fall through.  I am stressed beyond belief and home that come June 1, this part of the homebuying process will be over and done with!!!

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Make sure that no money is coming into your account undocumented. Just provide what they ask for and if everything is legit, you'll have no problem!!

[Calidreaming]

Gabeincal, that's good to hear.  The way they scrutinize these statements I've been afraid they're going to ding me for too many Starbucks runs. 

[Anonymous]

Well folks my walk through is done!  I will go again next wednesday morning before I head to the title company to sign to make sure they did everything we agreed on.  The inspector I hired is going tomorrow to do his run-through so there might be something he finds that they'll have to attend to, but I kinda doubt hes going to find anything mind-blowing.

Its going to be the LONGEST. SEVEN. DAYS. EVER.

[Anonymous]

That is awesome. I am so excited for you. Its scary how close we all are. I am still waiting to hear SORRY no home for you.. I was told yesterday to go pay for the home and flood insurance that I need. I hope thats a good indication. When were you all asked to pay for yours? - Those who got the CTC

[Calidreaming]

johnsocma,  I have not gotten CTC yet but my loan officer told us to go ahead and purchase it.  In our case, we don't have a lot of cash and I think they're doing some moves so that we don't have to use gift money.  Proof of sufficient funds to close is our only barrier at this point--which is frustrating because the closing closts have been inflated. 

[Anonymous]

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@Calidreaming wrote:

johnsocma,  I have not gotten CTC yet but my loan officer told us to go ahead and purchase it.  In our case, we don't have a lot of cash and I think they're doing some moves so that we don't have to use gift money.  Proof of sufficient funds to close is our only barrier at this point--which is frustrating because the closing closts have been inflated. 

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There is nothing wrong with gift money. I've done it twice so far at large amounts (>$10k).

[Calidreaming]

gabeincal, yes it's very confusing to me and I really don't understand what difference it makes!  I don't know if it's a major issue, or that they think it's easier to not have to document as much stuff.   The gift money is coming from my husband's business account (he's not on the loan)--so I don't know if that's where the complications arise.

[Anonymous]

Mine is paid for at closing.  The title company pays them from my closing funds

[Anonymous]

gabeincal - After paying the $2600 total for both policies it dropped my funding some, So Im like UGGGH, I am having some of my closing costs tied into my mortgage, which means higher interest rate. But I'll take that hit to close for now. I am seriously hoping for CD by end of this week.

[Calidreaming]

I just gave the lender proof that I had purchased homeowners' insurance today and they emailed me just now to let me know they are submitting it for clear to close.    I am not going to celebrate until I get the *official* clear to close.  I hope there are no other conditions or I might just melt into a puddle of stress, cortisol and caffeine. ..Fingers crossed!