May Closers

[sharriel]

Thought I would start a May thread!

    House Price: $132K

    Purchase Price:  $128K with $4000 closing costs paid
    Property: SFH - 1570 sq ft
    Toured house on: 3/11/2014
    Submitted Offer on: 3/16/2014
    Signed Purchased Contract on : 03/19/2014
    Type of Loan: 30 year fixed FHA
    Loan Rate: 4.125%

    Conditional Approval: 4/17/2014

    Inspection - 4/11/2014

    Appraisal - 4/23/2014
    Clear To Close Date: TBD
    Closing Date: 05/16/2014 Tentatively

[srchick]

Congrats on your pending home purchase! You really went to work on raising your initial credit scores which is where I am presently.  Curious: the cards you've listed show your limits, right? In order to qualify for the home what type of utilization did you have? Each of the credit monitoring companies indicate various amounts from 0-20% max on a card.  I'm currently at 28%, but will be hitting 15% by months end. Pls advise. thanks much.

[juggalo9er]

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@srchick wrote:

Congrats on your pending home purchase! You really went to work on raising your initial credit scores which is where I am presently.  Curious: the cards you've listed show your limits, right? In order to qualify for the home what type of utilization did you have? Each of the credit monitoring companies indicate various amounts from 0-20% max on a card.  I'm currently at 28%, but will be hitting 15% by months end. Pls advise. thanks much.

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the only thing utilization with affect is your score......if you have multiple cards reporting a balance this will likely affect dti more than anything else. pay them all off except for one and leave less than $100 on it

[srchick]

That is EXACTLY my plan of action! I follow the info closely on this site (and others) because you can pick up good tips from others who've walked the credit tightrope. tks for the response.

[Muschock]

Purchase Price: $182,500
Property: SFH - 2600 sq ft
Toured house on: 3/13/14
Submitted Offer on: 3/13/14
Signed Purchased Contract on : 03/17/14
Type of Loan: 30 year fixed USDA
Loan Rate: 4.5%
Loan Conditional Approval: 4/7/14
Appraisal - 4/2/14 appraised at 186k
USDA Approved: TBD
Closing Date: 05/1/2014

Woohoo, getting closer!!!

[juggalo9er]

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@Muschock wrote:
Purchase Price: $182,500
Property: SFH - 2600 sq ft
Toured house on: 3/13/14
Submitted Offer on: 3/13/14
Signed Purchased Contract on : 03/17/14
Type of Loan: 30 year fixed USDA
Loan Rate: 4.5%
Loan Conditional Approval: 4/7/14
Appraisal - 4/2/14 appraised at 186k
USDA Approved: TBD
Closing Date: 05/1/2014

Woohoo, getting closer!!!

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wait till you sign the papers and realize it will be 2044 before your loan is paid off lol! i closed monday

[Muschock]

Ha! I hope not...my plan is 15yr pay off...or hit the lottery...haha!!

[azidovsky]

This could be me!  Still waiting on Short Sale approval letter, hopefully this week.  Started USDA but in the middle of changing to FHA 203K to address water quality issue and plumbing. 

Purchase Price:  $190K     

Property: SFH - 1900 sq ft    

Toured house on:  2/22/14  

Submitted Offer on:  2/24/2014 

Signed Purchased Contract on: 2/26/14

Type of Loan: 30 year fixed FHA  203K 

Loan Rate:   TBD

Loan Approved:TBD

Inspection -  3/26/14

Appraisal - TBD   

FHA Approved: TBD    

Closing Date: TBD

[Mrs_hambright]

    Purchase Price:  $108,500

    Property: SFH - 2400sq ft

    Toured house on: 3/17/2014

    Submitted Offer on: 3/18/2014

    Signed Purchased Contract on : 03/19/2014

    Type of Loan: 30 year fixed PHFA 3% down conventional 

    Loan Rate: 5.125%

    Loan Approved: TBD

    Inspection - 03/28/2014

    Appraisal - TBD

    PHFA Approved: TBD

    Closing Date: 05/30/2014 Tentatively

[juggalo9er]

Hate to be the cloud in everyones "May Closer" but its only April.....