topic Re: December 2013 Closers!! in Mortgage Loans

December 2013 Closers!!

Panamanian — Thu, 05 Dec 2013 20:36:38 GMT

Home Location: Houston, Texas
Purchase Price: $148k
Property: SFH - 2400 sq ft
Submitted Offer on: November 4
Signed Contract on : November 5
Lender Name: CU Members

Notes about Lender: Speedy Process, and Great processor

Type of Loan: FHA 30 Yr Fixed
Loan Rate: 4
Loan Application submitted: November 4, 2013
Processing: November 7, 2013
Appraisal Ordered:   November 11, 2013
Appraisal Completed: November 12, 2013
Underwriting:   November 15, 2013
Loan Approved w/conditions: November 15, 2013
Final Approval:   November 19, 2013

Closing Date: December 3, 2013
CLOSED: December 3, 2013 Yay!

Re: December 2013 Closers!!

Anonymous — Fri, 08 Nov 2013 17:19:57 GMT

Home Location: San Antonio, Texas
Purchase Price: $242K
Property: SFH - 2750 sq ft
Submitted Offer on: 10/27
Signed Contract on : 10/30

Lender Name: Broker

Type of Loan: FHA 30 Yr Fixed
Loan Rate: 3.75
Closing Date: December 11

CLOSED:

Realtor set closing late due to the holidays, but broker thinks he'll have everything done by 11/15. He ordered the appraisal on 11/5.

So now we wait.

Re: December 2013 Closers!!

Anonymous — Sun, 10 Nov 2013 22:05:20 GMT

Home location: Howell, MI
Purchase price: 147,900
Property : SFH. 1600 sq ft
Submitted offer: Oct 29th
Signed contract: Nov 1st
Lender: USDA
Type of loan: USDA 502 Direct
Loan rate: 3.75
Closing date: Dec 15th

No huge issues with the mortgage people, however this has overall Benn, and still is, horribly stressful! A person still lives in this home and communication has been horrible. I can't get the foundation inspected yet because of this, I'm so scared !"

Re: December 2013 Closers!!

C_DUBYA — Sat, 14 Dec 2013 04:01:19 GMT

Home Location: Mason, MI
Purchase Price: $184900
Property: SFH - 2200 sq ft
Submitted Offer on: November 5
Signed Contract on : November 6
Lender Name: Dont want to recommend yet...
Notes about Lender: So far working hard for me and quickly!
Type of Loan: FHA 30 Yr Fixed
Loan Rate: 4.9
Loan Application submitted: November 4
Loan Approved w/conditions: November 6
Processing: November 8

Appraisal Ordered: November 11th
Appraisal Completed: November 15th

Commitment Letter: November 18th
Underwriting: November 20th (Slight delay due to UW being off Thanksgiving week)
Final Approval: December 13
Closing Date: December 17
CLOSED:

Re: December 2013 Closers!!

Panamanian — Tue, 19 Nov 2013 19:41:38 GMT

My file went into underwriting and approved with one condition in less then 8 hours...so unbelievable....processor said if I submit loe on Monday we could possibly close on Friday the 22nd.

Updated: Well I could have closed this thursday..but the sellers want to stick with the original contract closing date because there loan process is dragging on....sucks...but got to be patient.

Re: December 2013 Closers!!

Anonymous — Sat, 16 Nov 2013 19:47:46 GMT

Home Location: Port Orchard, WA
Purchase Price: $399k
Property: SFH - 3450 sq ft
Submitted Offer on: October 30th
Signed Contract on : November 5th
Lender Name: Guild Mortgage
Notes about Lender: Don't know yet, easy so far.
Type of Loan: FHA 30 Yr Fixed
Loan Rate: Not sure ye
Loan Application submitted: October 20th
Processing: November 15th
Appraisal Ordered:November 12th
Appraisal Completed: November 13th
Underwriting: Will go November 18th
Loan Approved w/conditions:
Final Approval:
Closing Date: December 5
CLOSED:

Started with a conventional, went through UW and got kicked back due to a mortgage insurance denial. Now trying for FHA, they said we were approved/eligible by the computer but I am super nervous.

Re: December 2013 Closers!!

H-Town_Tider — Sun, 17 Nov 2013 07:01:29 GMT

Home Location: Rosharon, TX (suburb outside of Houston)
Purchase Price: $281,500
Property: SFH - 2,999 Sq. Ft.
Submitted Offer on: 9/19/13
Builder’s Name: Westin Homes
Start of construction: 7/13 (we are buying a home that the builder was building)
Signed Purchase Contract on : 9/22/13
Lender Name: AMCAP Mortgage, Ltd.
Notes about Lender: So far so good.
Type of Loan: FHA 30 Year Fixed
Loan Rate: 4.25 (should lock this week)
Loan Application submitted: 11/15/13
Loan Approved w/conditions: TBD
Final Approval: TBD
Appraisal Ordered: TBD
Appraisal Completed: TBD
Closing Date: 12/16
CLOSED:

Re: December 2013 Closers!!

tcrutchf — Thu, 12 Dec 2013 00:29:40 GMT

Home Location: Acworth, GA, just north of Atlanta
Purchase Price: $148,000
Property: Townhouse - 2200 sq ft
Submitted Offer on: June 15 (New Construction)
Signed Contract on : June 15

Builder Name: D.R. Horton
Lender Name: Evolve Bank & Trust
Notes about Lender: No issues so far.
Type of Loan: FHA 30 Yr Fixed - Georgia Dream Program
Loan Rate: 4.125
Loan Application submitted: October 5
Appraisal Ordered: November 26
Appraisal Completed: December 4
Underwriting: December 6
Loan Approved w/conditions: December 10
Final Approval:
Closing Date: December 27
CLOSED:

Re: December 2013 Closers!!

Anonymous — Tue, 19 Nov 2013 19:21:02 GMT

I'm happy and envious of each and everyone person on here! Good job getting a new home. i know its not easy. i cant wait til i can post! hoping i make it before the new rules. if its after january 2014 i hope i qualify under the new rules.

Re: December 2013 Closers!!

Panamanian — Tue, 19 Nov 2013 19:42:04 GMT

what new laws are taking effect?

Re: December 2013 Closers!!

Anonymous — Tue, 19 Nov 2013 20:27:44 GMT

@Anonymous wrote:
Home Location: San Antonio, Texas
Purchase Price: $242K
Property: SFH - 2750 sq ft
Submitted Offer on: 10/27
Signed Contract on : 10/30
Lender Name: Broker
Type of Loan: FHA 30 Yr Fixed
Loan Rate: 3.75
Closing Date: December 11
CLOSED:

Realtor set closing late due to the holidays, but broker thinks he'll have everything done by 11/15. He ordered the appraisal on 11/5.

So now we wait.

Looks like we'll be November closers! Broker emailed this morning that we're looking at next Tuesday as a closing date! Happy Thanksgiving indeed.

Re: December 2013 Closers!!

Anonymous — Tue, 19 Nov 2013 22:00:40 GMT

@Panamanian wrote:
what new laws are taking effect?

check this out

http://blog.credit.com/2013/10/how-upcoming-mortgage-changes-could-affect-you/

Re: December 2013 Closers!!

Anonymous — Wed, 20 Nov 2013 02:09:29 GMT

Conditional Approval! It only went to UW yesterday, wow!

My LO called me, because of the conditions was a biggie. One of my high balance credit cards was reporting $0 minimum payment which is obviously wrong. She was a little freaked out it would mess up our DTI, but it didn't - at all. The other conditions were 401K statements, and a few others she said she could handle.

Oh boy oh boy! I'm still not getting excited. I'm afraid.

Re: December 2013 Closers!!

Anonymous — Thu, 21 Nov 2013 03:42:08 GMT

New condition, I have to have my name changed with social security tomorrow. Yikes! I've been trying to get around to it, I suppose.

Re: December 2013 Closers!!

Anonymous — Thu, 21 Nov 2013 22:27:10 GMT

Include link to house you are buying, always cool to see what others are buying what deals are to b had and such.

Re: December 2013 Closers!!

Anonymous — Tue, 31 Dec 2013 13:26:49 GMT

Home Location: Houston, Texas
Purchase Price: $1678.5k - Apprailsed @ $164,500

Property: SFH - 2647 sq ft
Submitted Offer on: November 20
Signed Contract on : November 21
Lender Name: Proficio

Notes about Lender: Always answers my phone calls and questions. Great so far! - Horrible Liars!

Type of Loan: VA 30 Yr Fixed
Loan Rate: 4.75
Loan Application submitted: November 22, 2013
Processing: December 2
Appraisal Ordered: ?
Appraisal Completed: 12/20/13
Underwriting: December 12 Still there on 12/20

Loan Approved w/conditions: ?
Final Approval: ?

Projected Closing date: Dec 23, 2013

UPDATE: Fired the worthless LO - NEVER EVER USE PROFICIO MORTGAGE! New loan company is planning on closing Jan 8th!

Re: December 2013 Closers!!

basballguy — Tue, 03 Dec 2013 23:40:05 GMT

Whelp, I guess i'll go ahead and post to this thread send I got conditional UW approval.

Home Location: Glenn Heights, Texas
Purchase Price: 285k
Property: SFH - 3988 sq ft
Submitted Offer on: May 15th (ish)
Signed Contract on : May 15th (ish) (New construction)
Lender Name: Supreme Lending

Notes about Lender: Good communication, would recommend

Type of Loan: USDA Guaranteed
Loan Rate: I should know this but i don't
Loan Application submitted: 11/5
Processing: 11/11
Appraisal Ordered:   11/25
Appraisal Completed: 12/2
Underwriting:   11/20
Loan Approved w/conditions:   11/26 (Conditions: Letter stating I was never married, IRS payment history, copies of canceled checks for earnest)
Final Approval:   ?

Projected Closing date: Between 12/20 - 12/30

Re: December 2013 Closers!!

Anonymous — Tue, 26 Nov 2013 18:39:40 GMT

Home Location: Chico, California
Purchase Price: 342k
Property: SFH - 2098 sq ft
Signed Contract on : August 28th (ish) (New construction)

Builder: Webb Homes
Lender Name: Summit Funding

Notes about Lender: Good communication, would recommend, always responded to my emails within a few hours, even on weekends

Type of Loan: 30 year conventional 20% down
Loan Rate: 4.5%
Loan Application submitted: 8/1
Processing: 11/14
Appraisal Ordered:   11/1
Appraisal Completed: 11/4
Underwriting:   11/15
Loan Approved w/conditions: Zero Conditions
Final Approval:   11/22 I went though UW so fast that we are just waiting for the Title Company now to come up with numbers. " They told me I was over prepared" I walked into their office with a binder containing every single piece of information a UW could ever think of.

Closing date: December 13th. I am superstitious and that is Friday the 13th!!!!!!!!!!!!!!!!

I went to try and buy a house in May of 2012 and was embarrassed with how far off I was. My middle FICO was 601!! I spent the next year many hours each week repairing my credit. I was able to get my middle score to 715 with two paid CO's still on my report that is a lot better than the 16 negatives I started with.

Re: December 2013 Closers!!

RJA — Tue, 03 Dec 2013 22:51:33 GMT

Home Location: Plumas Lake, CA

Purchase Price: $210k

Property: SFH - 2283 sq ft

Submitted Offer on: November 2

Signed Contract on : November 5

Lender Name: NACA - Citibank

Notes about Lender: My Mortgage Counselor is great!

Type of Loan: NACA Conventional 30 Yr Fixed Loan Rate: 3.5%

Credit Access - Underwriter Approval: December 2, 2013

Loan Application submitted: December 2, 2013

Processing: December 3, 2013

Appraisal Ordered: December 3, 2013

Appraisal Completed: ?

Underwriting: ?

Loan Approved w/conditions: ?

Final Approval: ?

Contract Closing date: Dec 20, 2013 (don't think we will make this date though)

Re: December 2013 Closers!!

Panamanian — Tue, 03 Dec 2013 22:53:47 GMT

Finally closed and funded.