Frequent Contributor
Posts: 367
Registered: ‎01-14-2012
Re: November and December Closers

smileyedna wrote:
  • Purchase Price:  $59900
  • Property: SFH - 1600 sq ft/ 2 acres
  • Submitted Offer on: 11-2-2012
  • Signed Purchased Contract on : 11-8-2012
  • Type of Loan: 30 Yr Fixed FHA
  • Loan Rate: 3.25 = 3.875% APR (with no closing costs)
  • Loan Application submitted: 11-8-2012
  • Loan Approved Contigent 11-21-2012
  • Closing Date: 12-18-2012
  • Closed On: ??????
  • Lender: PNC

I'm using a zero down FHA 203h Disaster loan.  Its offered for one year after a federally declared disaster (in my case a tornado almost killed the whole family January 2012)  I wasn't eligible to get an FHA loan until June 2012 (24 months out of chapter 7 BK).  I lost my job May 30th, 2012.  I lost my next job August 2012. I moved to New Orleans and was hit by Hurricane Issac August 2012.

I have perfect post BK credit. 4 trade lines, low DTI ratios, and 100 million contingencies to fulfill.

My PITI+MIP will be 40% of my rent in the same neighborhood.

Working for a notoriously volitile employer.

Sitting here a nervous wreck.  lol

It's been one rollercoaster ride of a year.


You've had quite a year- I'll be keeping my fingers and toes crossed that all will work ot well for you.