Mortgage Loans

[BetterHalf]

Thats great leppy! My inspection is set for Friday, I don't anticipate any problems with that, the house was very well maintained. Not sure when we'll get an appraisal. Things shut down for the holiday and now we are in the midst of a blizzard, so I doubt my LO will even be in the office today. I'm so ready to get things over with, for better or worse I want to know what the outcome is!!

[leppy2]

BH, did you make it through the blizzard?

[lifeafter]

Our stories are similar, except I'm not married or a grandma...I could be, I'm old enough. I have lurked on these pages over a year while rebuilding my credit. Last year my scores were only in the  500's. When I applied a few weeks ago for a home loan  my middle score was TU 660-lender pulled thanks largely to the informaiton I've found on these pages.  I've found a little farm house, minus the farm. Its in a good location for me in that's its a country setting but its still close to town. Its been completely remodeled and updated. Passed all inspections and the appraisal. USDA here also.  Now I just have to sit back and wait and wait and wait....or so it seems. I'm about to go nuts! I can't think about anything else when I am not working.  Please keep us updated on your progress and best of luck to you!

[BetterHalf]

leppy, they were calling it a blizzard on the news, but I've lived through blizzards and quite frankly this was just a heavy snowfall,

However it was anticipated to be much worse so a lot of businesses shut down ahead of time. I'm just glad the holidays are over so we can hopefully move full steam ahead.

[leppy2]

My file was sent to the lender's UW today and should be completed by Thursday. Praying all goes well!

[Mike_B03]

Wow that's a really quick turnaround! I'm jealous. They told us 9-10 business days and they didn't work Mon/Tues. this week and I know they don't work Tues. next week either, maybe not even Mon. I'm looking at end of next week before we hear something and they've had the file since Tuesday last week.

[leppy2]

My LO said it would be out by Thursday. I sure hope she is right. I don't envy your wait Mike. The not knowing is excruciating. I will feel some relief when/if we get through the lenders UW. Then its on to usda which is a two week turn around. We are going usda guaranteed. I'm praying if it it is approved by lender that it should make it through usda with no problem.
I guess staying busy is our best option, Mike and LA! At least it's back to work for me tonight. That will help. Good wishes and vibes til we make it through. Keep us posted y'all.

[leppy2]

LA your farm house sounds just like mine! When we all close we should post pictures!

[leppy2]

Update.
My appraiser inspected my home Friday instead of Monday. LO said the report would be in by Friday. My file is set to come.out of underwriting tomorrow. I will be glad to know the results of both. Pretty nervous!

My contract expired 12-28. The seller has been on vacation so we haven't renewed it yet. I wonder is there any ramifications to letting it expire? Both the homeowner and the realtor have told us that he had no problem extending the contract. So, I'm not too worried. Also if the appraisal comes back low and we aren't under contract would it hurt us by allowing seller to walk easier? Ok I'm a little more worried than i thought.

BH and LA, how are y'all? Any updates?

[BetterHalf]

Sounds like you're getting very close leppy!

My appraisal is tomorrow.. I have an email out to my LO asking what our time frame looks like once the appraisal comes in. I may be overly optimistic but I'm hoping I will know by the end of next week if it's a done deal or not.