Today I took the final step to become a home owner. In July I submitted for a Pre-Qualification letter to start my quest to own a home. I was fortunate to actual get the Pre-Qualification letter with my credit score at the time. Me and my spousal unit found the home we wanted from a respected builder. I put the required 1% down for the deposit toward pre-sale. My new home is currently 60% complete. So today I went to the bank (builder preferred lender) with paper work in hand to hopefuly get a approval for a VA Home loan. So, after sitting and watching the Residental Mortgage Consulatant input my data for my credit report. It comes back higher then I was expecting.Then she starts typing again in her mystical system. Before I know it my file comes back as accepted and she locks me in at 3.75% on my loan for 50 days. I've been watching rates and this seems to be a good rate for my credit score. The amount of my loan should be about $272,635. Subject to change because the house is not finished yet. On Monday will be taking a $600 for the appraisal and additional documents. Hopefully, the star stay aligned for me and my family. More to follow.
Starting Score: EQ612, TU644, EX622 4-22-17
Jville, my home is sceduled to be done on or about January 12, 2018. However, I'm aware that it can move to the left. I'm praying that nothing happens to stop the progress thus far. The lender explained what would happen if we don't meet the50 day window.
Congratulations on your new home and surviving the tough road to qualifying! Sounds like your Loan Officer did a great job and your hard work has paid off 
Creditinspired,
She didn’t mention anything about a floating lock. I asked if my rate could go down or up and she said no. Maybe, I need to ask this when I go Monday to take the appraisal money. Thanks for asking. This process has been a learning experience. I’m glad I’m a member of this site.
She didn’t mention anything about a floating lock. I asked if my rate could go down or up and she said no. Maybe, I need to ask this when I go Monday to take the appraisal money. Thanks for asking. This process has been a learning experience. I’m glad I’m a member of this site.
Update:
I had to sign a addendum for a new closing date of 13 Feb 2018.This will be 6 days before my intrest lock rate expires. The builder will be paying the extention fees if they don't finish. Hopefully, the weather doesn't continue to hender the builder. Haven't heard anything bad from the bank yet, so things are moving.