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Regular Contributor
Posts: 118
Registered: ‎08-13-2012
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Re: My home buying thread!!

Our realtor just called. Apparently the current owner is out of town on business today and they need an extension on the deadline until tomorrow at 6:00 pm. Now we wait some more I guess.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

They countered like we expected and we accepted their counter. We are under contract!!!!!!
Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 226
Registered: ‎05-24-2012
0

Re: My home buying thread!!

Awesome! Congrats!

Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

I will never make it through the underwriting process. I called the mortgage broker this morning to get the app started. He said he would get it ready and call me to come sign it. That was at 8:00 this morning. It's 3:00 here and I still haven't heard from him. No way my patience will hold out for a month if I can barely even make it through today.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 226
Registered: ‎05-24-2012
0

Re: My home buying thread!!

Take a deep breath! It will go faster than you think! Its worth it in the end!

Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

I finally got a meeting with my mortgage broker. All the paperwork is signed. We locked the rate in today at 3.25%. Home inspection is Monday at 8:00 am. Insurance quotes are in. Things are moving!!
Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

We had the home inpsection this morning. Everything looks good. There are of course a few minor things but nothing major. Now we have to wait on the appraisal. Mortgage broker said it would be about two weeks.

 

A little glitch with the mortgage paperwork. Turns out the address was incomplete on most of the forms so I have to go back and sign everything again. No big deal there though.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 226
Registered: ‎05-24-2012
0

Re: My home buying thread!!

Looks like it is moving along nicely!

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Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

We got the inspection report back last night. It said a bunch of stuff I didn't really understand but in the summary on the last page he said the house was in good shape. My husband decided there were a few things he wanted to ask the seller's to fix. We are waiting on their response to that request. The mortgage broker has requested a few LOE on some things. He said he would order the appraisal as soon as everything was done on the inspection side. If the sellers don't want to do the repairs, we will do them ourselves when we move in. They really are no big deal. Just some caulking and stuff. I am so anxious to get this appraisal going. We are expecting the house to appraise about $25K over what we are paying.

 

About to head off to Atlanta for the weekend to watch Chipper play his last games at the Ted. Hopefully it will relieve some of this stress.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
Regular Contributor
Posts: 118
Registered: ‎08-13-2012
0

Re: My home buying thread!!

[ Edited ]

Looks like underwriting won't be so easy for us after all. Got a call from the mortgage broker yesterday. Apparently my student loans, which are on forbearance, are showing as deferred on my credit report. Why this is my fault, I have no idea. Anyway, I guess that makes a difference to an underwriter because loans are only on forbearance when you have a financial hardship and can't pay them. That is not true in my case. I put them on forbearance to pay other things off and when I started repaying them, my score tanked 50 points. I panicked and put them back on forbearance until we could purchase a house. The mortgage broker asked me to print him my statements from experian showing the score drop and increase to support my story. He said it should be enough but now I'm nervous. He thinks they will make me take them out of forbearance as a condition of the loan, which is totally fine.  Also, if you read the original post, you know that we had a lot of trouble with my husband's previous job. Well, they had two credit cards that he was the primary on, so they are under his social security number. The previous employer has not paid them in almost three years, so of course they are killing his credit. Even though he isn't on the mortgage, he is on the title so they are concerned that a judgement on these cards (almost $12k) would take first priority over the mortgage. They asked him to try to get a letter from the board of directors stating that the cards were in fact the responsibility of the camp. Now if I could have gotten that previously, they wouldn't be on his reports at all and this wouldn't be an issue. He told us that it could be a former board member since it is the current board members that have the problem. We called the chairman of the board that left when we left and turns out, he is back on the board and didn't know these cards haven't been paid. He is writing us the letter, having the cards paid, and we will be getting these off my husband's credit report. I can not believe it. Might turn out ok after all.

Starting scores 2/27/12 TU 605 EX 576 EQ 560
Current scores lender pull 9/6/12 TU 663 EX 629 EQ 645
Closed on our first home 10/26/2012!
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