JenniferinFL wrote:
techgirl wrote:Fingers crossed....
- How long does it take before we know we are approved - they asked for second round of signtures on everything and are repulling our credit, etc. Nervous....
It's hard to tell, we really didn't know for sure that all was well until we went into closing. Though, I'm sure some lenders are a lot better about that.. lol.. We closed today at 10:30, had a small hiccup in funding with the wire transfer, but we're funded and done..
Congratulations!!!! Time for Martinis! Cheers!
Well, our appraisal is done. We were told things are going to the underwriters now. They asked for a couple letters of explanation - had be redo one from the FC. We added a sentence there there about having to deal with a subprime loan and adjusting rates, and balloon payments, etc. I hope it goes through without issue. They also reran out credit again (3 times now!) I told them the only inquiries was theres - the others ones dropped off. All of our scores hover around 680 and 690 right now. As soon as we close and I start paying off some more cards our credit should jump up again. I wonder if it will go up because now we have a mortgage again....
I hope to be through this soon.... really keeping me on edge...
FINALLY!!!! WE CLOSED 
Praise God! After about a year of repairing our credit and learning as much as possible from this and other websites along with a 4 month long short sale process we are now exceedingly joyous homeowners We closed 06/01/2012 ...this past Friday.
Thank you to all that have had encouraging words along the way.
We purchased our home using the USDA Rural Guaranteed Loan with a mid score of just 620 and have an interest rate of 4.25%. No down payment (of course and we paid just $277.45 in closing cost. We were able to get the sellers to pay the rest of the closing cost which included a 1 year home warranty.
5br/2bath in a great neighborhood
Starting Score: EQ 602 TU 624 as of 01/12/12
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