The process (was "What are our odds?")

[Anonymous]

Our closest branch is 2 hours away... but I wanted that in-person contact.

Also, construction loans might be treated differently because of the agreement to purchase at the end of the build.

[StartingOver10]

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@Anonymous wrote:

Our closest branch is 2 hours away... but I wanted that in-person contact.

Also, construction loans might be treated differently because of the agreement to purchase at the end of the build.

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Actually if you aren't closing until the house is built (Certificate of Occupany) then this is considered an "end loan" and not a construction loan. It is much easier to qualify for an end loan rather than a construction loan with a draw schedule. 

Still, it might be really nice to have that face to face contact. 

[Anonymous]

Our agent sent off the request for Seller Remediation docs on Friday afternoon. Minor stuff, under $1400 all told... but that's still over 1% of the offer price.  If they don't take care of it, it's nothing that will stop the sale either.

I hate waiting.

[mynameainttracy]

Good thing you didn't go the construction route! I have been living through this going on 6 months now.

[Anonymous]

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@mynameainttracy wrote:

Good thing you didn't go the construction route! I have been living through this going on 6 months now.

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Oh yeah... I'd have gone nuts with new construction.

[Anonymous]

2015 - The year of the house

02/13 - Contacted USAA Movers Advantaged. Got hooked up with a local realtor.
02/28 - Received pre-approval letter from NFCU (actually a pre-qual as they didn't verify any info)
02/28 - Went looking at houses; some we'd kept an eye on through the winter and a few realtor suggestions
03/04 - Second look at our preferred house
03/05 - Signed offer letter
03/08 - Executed contract.
03/09 - Received word of contract. Applied, online, for loan at NFCU
03/10 - Inspections scheduled for 03/12. Insurance app submitted.
03/11 - Conditional loan approval received. Lots of paperwork to look at/fill out.
03/12 - Home Inspection & Well Inspection complete.

            Electrical Inspection scheduled.
03/13 - All requested loan docs signed and uploaded.
            Earnest money check cleared account.
03/16 - Buyers response to inspection ready to go. Electrical Inspection complete.

03/17 - Appraisal ordered.
03/18 - Received Homeowner's Policy.
            Received Well test results.
            Received first window replacement proposal (for Energy Efficiency Mortgage add on)
03/19 - Received notice of Septic Inspection completion (darn it... wanted to be there. Had questions.)
            Received documents from Title/Escrow company. 

03/20 - Well quality results unsatisfactory. Request seller remediation.

03/24 - Got the last of the Energy Efficiency upgrade bids back. Sent off to LO.

Found out today that the appraisal was ordered back on the 17th. Whee.

[Anonymous]

Appraisal was apparently done yesterday!

And the sellers have agreed to all the repairs we asked for!

Wheeeeeeeee!

[Anonymous]

Handyman out, repaired, invoiced sellers (with a cc: to us). Electrician is up next.

[Anonymous]

Keeping credit cards payed off.

Not applying for new credit.

Is there anything else I could do to screw up a loan about to go underwriting that I'm not thinking of? 

'Cause I really don't want to screw this up. We just gave notice on our rental.