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May Closers!

Established Member

Re: May Closers!

Yep.  It is a jumbo, lower credit (fell to a 665 since starting the build) and it is a 100% loan

Message 11 of 36
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Valued Contributor

Re: May Closers!

Yeah, I also did a 100% financing loan and the interest rate was higher at the time than anyone else's mortgage on this board...4.125% when everyone else was 3.0% and 3.125%. But 5.65% is still a lot better than the rates 6 years ago. I'm not well versed on Jumbo mortgages. What is the difference?

By the way, congrats May closers! Smiley Very Happy
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 12 of 36
Established Member

Re: May Closers!

Jumbo is just any loan over 417K.  I had dreams of a 3.5% rate, but just don't have the down payment.  I have already had the conversation with my LO about what would be needed to refi..  I am told that as soon as I reach 97% he can get me into a 3.X rate.   Our zip has appreciated 10% in the past year and Our community has already gone up (our house would be 36K more if we were to put a contract on it now), but I don't know how that translates to appreciation.  I am actually hoping to have the 13K appreciation in 6mos.

Message 13 of 36
Regular Contributor

Re: May Closers!

Excited about the house...not about the mortgage

Purchase Price: $176,000
Property: SFH 1900 sq ft
Submitted Offer on: 4/18/13
Signed Purchased Contract on : 4/20/13
Type of Loan: 30 Yr Fixed
Loan Rate: 3.25%
Pre-approved: 4/12/13
Loan Application submitted: 4/26/13
Loan Approved w/Conditions: 5/3/13
Final Approval:
Appraisal Ordered: 4/24/13 (appraisal at 1pm 4/27/13)
Termite Inspection: need to order
Closing Date: 5/31/13
Closed on: Early... Will update

Starting Score: 0 No score until August 2011
Current Score: 8/28/15 EQ Fico 707, 8/28/15 TU Fico 737, 9/1/15 EX fico 729
Goal Score: 800
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Message 14 of 36
Established Contributor

Re: May Closers!

Congrats to ALL the May closers.

Way to go!

Message 15 of 36
Regular Contributor

Re: May Closers!

Qtcbcute- Where do you live that you can get over 4,000 sq ft. for under $300K?   Wow!! That is impressive!


Starting Score:2/1/16 565
Current Score: 3/1/16 575
Lender Mid Score: 3/1/16 575

Goal Score: 700


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Message 16 of 36
Contributor

Re: May Closers!


Purchase Price: $179,900
Property: SFH 1900 sq ft
Submitted Offer on: 04/27/2013
Signed Purchased Contract on : 04/28/2013
Type of Loan: 30 Yr Fixed
Loan Rate: 3.25%
Pre-approved: 12/28/2013
Loan Application submitted: 05/01/2013
Loan Approved w/Conditions:
Final Approval:
Appraisal Ordered:05/02/2013
Termite Inspection: need to order
Closing Date: 5/31/13

Message 17 of 36
Contributor

Re: May Closers!

  • Purchase Price:  $390,000
  • Property: SFH - 3500 sq ft 
  • Submitted Offer on: 03/25/2013
  • Signed Purchased Contract on : 04/02/2013
  • Type of Loan: 30 Yr Fixed VA
  • Loan Rate:3.25%
  • Loan Application submitted:  04/04/13
  • Loan Approved w/Conditions: 04/18/2013
  • Final Approval:04/29/2013
  • Appraisal Ordered: 04/17/2013
  • Appraisal Completed: 04/24/2013
  • Closing Date: 05/03/2013
  • Closed On: 05/03/2013

Starting Score:TU 580 EX ? 1/7/2013
Current Score:TU 659 4/2/2013 EX 650 4/20/2013
Goal Score: 670

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Message 18 of 36
Contributor

Re: May Closers!

ccubedzx3, I live in SW FL and that is why I was jumping all over this house. It is everything my husband and I was looking for, space wise! Right now we're just waiting on the title company to complete the title search, then perhaps, we can get a clear to close!


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Current Score: ?
Goal Score: 720


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Message 19 of 36
Established Contributor

Re: May Closers!

Fun thread...good luck everyone!

Message 20 of 36