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Updated ..... Our First House - FHA (Closed on 8/22/13)

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jman20013
Established Member

Updated ..... Our First House - FHA (Closed on 8/22/13)

I was pre-approved for 210,000 on a home loan. We are looking at new construction and going FHA. My mid score on credit when the lender pulled it was around 660 on

June 25th 2013. We put our $1,000.00 down to hold a lot that we liked, but it has not opened up for sale just yet on July 1st, 2013.

 

 

Well on July 11th 2013 we get a call from the builder stating that a home that is under construction with the floor plan we wanted and on a large lot in a cul-de-sac has opened up because the other buyers financing fell thru.  We decided to go take a look at it. We can’t change the brick color or anything since the outside is already finished, but we could still change allot of the inside. We talked about it last night and decided to go for it since the other lot we wanted will not be available until 16 other lots are sold and that could be months, and we really wanted a house this year.  My relater and I will be going to talk with the builder today, so wish us luck, my wife and I are so excited, and since we foster 6 children we needed more space. The house we are in now is only has 2100 square feet of usable space and we rent. The new house is 3100 square feet of useable space and has a really nice size yard and since it is on a cul-de-sac the kids can ride their bikes in an area without a lot of cars passing by. I will update as the process continues. 

2/2013 Starting FAKO: EX-574, MyFICO: EQ-560, TU-580
7/15/2013 MyFICO: EX-690, EQ-650, TU-673
(6/2013Lender pulled mid score 669)
Message 1 of 13
12 REPLIES 12
Nik2010
Valued Member

Re: Our First House - FHA

Good luck! The house on the cul-de-sac sounds great! And not to mention the fact that you foster six kids. I grew up as a foster, was adopted by the same family. We always had 6 kids in the house! Kudos to you and your wife for opening your hearts and home to kids in need. Smiley Happy
Starting Score: 700
Current Score: 704
Goal Score: 800


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Message 2 of 13
JAM2013
Established Member

Re: Our First House - FHA

Good luck!  That's a nice sized house for the price.  And on a cul-de-sac too?  That's great.  

 

 

We bought a house last month for $232900 (excluding the 20% we put down) and it's only 1618 sqft.  Everyone seems to think it's bigger though.  It lives very well due to the open layout.  

Message 3 of 13
swtneka
Frequent Contributor

Re: Our First House - FHA

awww that is wonderful!

Message 4 of 13
jman20013
Established Member

Re: Our First House - FHA

We live in Texas so for a nice size house in a good area it is not too expensive. It looks like it should be finished late August eairly September which is great because we will be in it before Christmas. The kids are so excited they are picking out stuff for the house. Our lives would be so empty without them, and we hope to be adopting when a set is avalible. We will be turning in all our paperwork and meeting with the lender on Monday.

2/2013 Starting FAKO: EX-574, MyFICO: EQ-560, TU-580
7/15/2013 MyFICO: EX-690, EQ-650, TU-673
(6/2013Lender pulled mid score 669)
Message 5 of 13
Sunshine85
Frequent Contributor

Re: Our First House - FHA

Good luck!

Message 6 of 13
jman20013
Established Member

Re: Our First House - FHA

Well the lender said everything is looking good. The file is in processing and we should have an answer back by Friday, next week at the latest since it takes 5 – 7 business days. I will not be able to sleep until that sign in front of the house says sold. 

2/2013 Starting FAKO: EX-574, MyFICO: EQ-560, TU-580
7/15/2013 MyFICO: EX-690, EQ-650, TU-673
(6/2013Lender pulled mid score 669)
Message 7 of 13
jman20013
Established Member

Re: Our First House - FHA

We are approved for the house all we need to provide is a current bank statement with the closing cost in the account. At first we thought the house would not be done until the 31st of August, but it will be done on the 20th the date of our walk. We will close on the 22nd at 2pm. It was fun putting the sold sticker on the sign out front this past weekend. 

2/2013 Starting FAKO: EX-574, MyFICO: EQ-560, TU-580
7/15/2013 MyFICO: EX-690, EQ-650, TU-673
(6/2013Lender pulled mid score 669)
Message 8 of 13
Christian123
New Contributor

Re: Our First House - FHA

That's great. Bless your heart for being a foster parent. I hope you all enjoy your new home.
Starting Scores 3/10---EQ 495, TU 505
5/13- EQ 720, TU 722, EX 696(Lender Pull)
Gardening since 5/2013 until 3/2014
Closed on dream home- 12/17/13
Message 9 of 13
jman20013
Established Member

Re: Our First House - FHA

It seems like the days are lasting longer LOL. We went by the house yesterday and they have done allot. Kitchen was done, Bathrooms done, and they put all the lights on the outside of the house in. We have piles of dirt in the backyard so the grass should be going in soon. I feel sorry for one of our neighbors, the lot is higher than theirs so all the water from our yard is going to drain and flood them it looks like. Five more days and we do the official walk and seven more days from now we should be sitting signing ourselves into a little more debt, but this will be good debt.

2/2013 Starting FAKO: EX-574, MyFICO: EQ-560, TU-580
7/15/2013 MyFICO: EX-690, EQ-650, TU-673
(6/2013Lender pulled mid score 669)
Message 10 of 13
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