Re: November and December Closers
12-04-2012 04:53 AM
- 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.