topic Re: March 2015 CLOSERS!!!! in Mortgage Loans

March 2015 CLOSERS!!!!

andemalia — Thu, 05 Feb 2015 19:57:35 GMT

Hello Friends!!!

It might be a tad bit early but March is really just about 3 weeks away!!!

Our offer was just accepted and we have our inspection on Monday 02/09.

Our closing is scheduled for 03/13/15

I have the confidence that it will all go through and we will be happy lower middle class first-time homebuyers!!

Feel free to share your stories too, I am sure they can help and encourage one another and others who are not sure what to expect about the process like I was some months ago!!

Re: March 2015 CLOSERS!!!!

andemalia — Thu, 05 Feb 2015 20:11:09 GMT

Home Location: Prince George's County, MD

Purchase Price: $265k no conditions

Property: Townhome - 1432 sq ft

Submitted Offer on: 02/01/15

Signed Contract on:

Ernest (Deposit) Money: $2650

Lender Name: Academy Mortgage

Notes about Lender: Awesome!! Available, friendly and so helpful!!

Type of Loan: FHA 30 year fixed

Inspection: scheduled for 02/09/2015

Purchase contract addendums:

Loan Rate: 3.5%

Application submitted:

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered:

Appraisal Completed:

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/13/2015

Re: March 2015 CLOSERS!!!!

frugalQ — Mon, 09 Feb 2015 16:36:33 GMT

woot woot!!!!! the time has FINALLY come!!!!

Home Location: Georgia

Purchase Price: $450,000

Property: Single Family home - 4,300 sq ft (6,000 sq ft including basement)

Submitted Offer on: 08/29/14

Signed Contract on: 09/06/14

Ernest (Deposit) Money: $7,500

Lender Name: Academy Mortgage

Notes about Lender: Love, love, love my LO

Type of Loan: 80/15/5 conventional

Inspection:

Purchase contract addendums:

Loan Rate: 4.125 (with no origination fee)

Application submitted: 08/15

Loan Processing: went through QC and straight to underwriting

Mortgage Commitment Letter: 2/6/15

Appraisal Ordered:

Appraisal Completed:

Went to underwriting: 1/26/15

Underwriting Complete: 2/6/15

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/19/2015

Re: March 2015 CLOSERS!!!!

Anonymous — Thu, 05 Feb 2015 20:42:52 GMT

I fully expect mine to close in early March even though they said 2-25 right now. I am locked in at 3.625% on a non conforming jumbo with 25% down

Re: March 2015 CLOSERS!!!!

Believe1970 — Thu, 12 Feb 2015 03:29:22 GMT

Home Location: Upstate NY

Purchase Price: $135,000

Property: Townhome - 1800 sq ft

Submitted Offer on: 01/23/2015

Signed Contract on: 01/24/2015

Ernest (Deposit) Money: $1000

Lender Name: Quicken Loans

Notes about Lender: Friendly and easy to work with

Type of Loan: FHA

Inspection: 1/31/2015

Purchase contract addendums: 02/07/2015

Loan Rate: 3.99

Application submitted: 02/05/2015

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered: 02/06/2015

Appraisal Completed: 02/11/2015

Went to underwriting: 02/06/2015

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/20/2015

Re: March 2015 CLOSERS!!!!

wagsk1 — Fri, 06 Feb 2015 04:29:49 GMT

Home Location: Jersey Shore

Purchase Price: 373,000

Property: Detached - 2130 sq ft

Submitted Offer on: 01/06/2015

Signed Contract on: 01/08/2015

Ernest (Deposit) Money:

Lender Name: PRMI

Notes about Lender: Friendly and easy to work with

Type of Loan: VA

Inspection: 1/17/2015

Purchase contract addendums:

Loan Rate: 3.5

Application submitted:

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered:

Appraisal Completed:

Went to underwriting:

Underwriting Complete: 02/02/2015

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/24/2015

Re: March 2015 CLOSERS!!!!

Anonymous — Fri, 06 Feb 2015 16:02:06 GMT

Home Location: San Diego Ca
Purchase Price: $620,000
Property: House - 3092 sqft
Submitted Offer on: 02/03/15
Signed Contract on: 02/05/15
Ernest (Deposit) Money: $22,000
Lender Name: WJBradley
Notes about Lender: Easy to work with
Type of Loan: FHA 30 year fixed
Inspection: scheduled for 02/15/2015
Purchase contract addendums:
Loan Rate: 3.65%
Application submitted:
Loan Processing:
Mortgage Commitment Letter:
Appraisal Ordered:
Appraisal Completed:
Went to underwriting: Yes
Underwriting Complete: Yes
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/10/2015

Re: March 2015 CLOSERS!!!!

denver133 — Fri, 06 Feb 2015 20:27:02 GMT

Home Location: Colorado

Purchase Price: $340000

Property: Townhome 1,400 sq ft

Submitted Offer on: 3/31/14

Signed Contract on: 3/31/14

Ernest (Deposit) Money: $11,000

Lender Name: OnQ Financial

Notes about Lender: Very straight forward and very helpful

Type of Loan: 3.5% FHA 30 year

Inspection:

Purchase contract addendums:

Loan Rate: 3.65 (with no origination fee)

Application submitted: 2/5/15

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered:

Appraisal Completed:

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/16/2015

Re: March 2015 CLOSERS!!!!

Anonymous — Wed, 18 Mar 2015 20:29:24 GMT

Home Location: Jefferson County, NY

Purchase Price: $140,000 Seller paying closing costs up to 6K

Property: 2360 sq ft

Submitted Offer on: 02/01/15

Signed Contract on: 02/03/15

Ernest (Deposit) Money: $250

Lender Name: MB Financial

Notes about Lender: Awesome!! My broker has been the best.

Inspection: scheduled for 2/11 DONE!

Purchase contract addendums: none

Loan Rate: 4%

Application submitted: in stages... sent to underwriting 2/06 Pre approved with all verification

Loan Processing:

Mortgage Commitment Letter: Received 02/20/15

Appraisal Ordered: 02/05/15

Appraisal Completed: 02/16/15

Went to underwriting: 02/06/15

Underwriting Complete: 03/01/15

Final Approval:
Walk Through: 3/12/15

Closing Date: Scheduled for March 10---- CLOSED ON FRIDAY MARCH 13TH!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Re: March 2015 CLOSERS!!!!

Anonymous — Thu, 12 Feb 2015 02:31:44 GMT

Home Location: Newnan GA
Purchase Price: $155,000 (With sellers paying closing cost up to $4650.)
Property: House- ~2800 sqft
Submitted Offer on: 01/20/2015
Signed Contract on: 01/27/2015
Ernest (Deposit) Money: $1000
Lender Name: Brightpath Mortgage
Notes about Lender: Excellent... Loan Officer very helpful even on weekends.
Type of Loan: FHA 30 year fixed
Inspection: 01/29/2015
Purchase contract addendums:
Loan Rate: locked at 3.5%
Application submitted: Will be tomorrow (02/09/2015)
Loan Processing:
Mortgage Commitment Letter:
Appraisal Ordered:
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/09/2015

Re: March 2015 CLOSERS!!!!

Anonymous — Mon, 09 Feb 2015 13:33:04 GMT

Location: Montgomery County, PA

Purchase Price: $312,000
Property: single family home 2700 sqft
Submitted Offer on: 02/07/2015
Signed Contract on: 02/08/2015
Ernest (Deposit) Money: $6000
Lender Name: BWM
Notes about Lender: Awesome experience so far
Type of Loan: 30 year conventional 20% down
Inspection: scheduled for 02/12/2015
Purchase contract addendums:
Loan Rate: 3.625%

Application submitted:
Loan Processing:
Mortgage Commitment Letter:
Appraisal Ordered:
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/24/2015

Re: March 2015 CLOSERS!!!!

andemalia — Tue, 10 Feb 2015 02:50:55 GMT

I am excited for all of us!! Keep us all posted. A few developments I am adding to the timeline here.

Home Location: Prince George's County, MD

Purchase Price: $265k no conditions

Property: Townhome - 1432 sq ft

Submitted Offer on: 02/01/15

Signed Contract on: 02/03/15

Ernest (Deposit) Money: $2650

Lender Name: Academy Mortgage

Notes about Lender: Awesome!! Available, friendly and so helpful!!

Type of Loan: FHA 30 year fixed

Inspection: 02/09/2015 went great, very minor issues, no repairs needed

Purchase contract addendums: Home warranty

Loan Rate: 3.5%

Application submitted: 02/09/2015

Loan Processing: 02/09/2015

Mortgage Commitment Letter:

Appraisal Ordered: 02/09/2015

Appraisal Completed:

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/13/2015

Re: March 2015 CLOSERS!!!!

jfg1022 — Wed, 04 Mar 2015 20:21:27 GMT

I'm going to add myself to this list in faith since we have an accepted offer however haven't done inspection yet

Home Location: Nassau County, NY

Purchase Price: $355K no conditions

Property: Single Family 1650 SQ

Submitted Offer on: 02/08/15

Signed Contract on: 2/20/2015 (seller signed 2/20 we signed 2/18)

Ernest (Deposit) Money: $17750 our entire down payment

Bank: CHL direct lenders our broker has been good so far

Type of Loan: FHA 30 year fixed

Inspection: scheduled for 02/13/2015 went well few minor things the sellers estate are going to correct (GFI outlets and crack in walkway more for FHA appraisal)

Purchase contract addendums:

Loan Rate: 4.1% worst case per broker

Application submitted: 3/2/2015

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered: 3/3/2015

Appraisal Completed: 3/10/2015 (tentative)

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/15/2015 updated to 3/31

Just updated some info..we are going to sign the application tomorrow. We went through full underwriting pre-approval before so I'm hoping we are good to go. Mid score for both of us is in the mid 640s. Praying everything continues to go as smooth as it has been so far..

Re: March 2015 CLOSERS!!!!

Anonymous — Wed, 11 Feb 2015 18:34:19 GMT

My husband and I have been working on our credit, but have accumulated a bit of debt. We were shocked when our lender said we were easily approved. Here's hoping underwriting goes just as easily.

He is the sole provider...making $73k/year

I am the one with the VA benefit ...my mid-score is 666 (eek!) and his is 647

The home we made an offer on is a new construction, completed in December...we got a verbal YES from the builder but he is STILL in the Florida Keys on vacation, so nothing has been sent to our LO yet. The company website shows our home under contract, however (whew)

Home Location: Gillette, WY

Purchase Price: $215,300 (including $6,000 closing costs)

Property: Single Family Home 1,700 SF on 0.33 acre lot

Submitted Offer on: 2-4-2015

Signed Contract on:

Ernest (Deposit) Money: $1,000

Lender Name: Veteran's United

Notes about Lender: Just love my LO...he replies in about 2 hours every time...keeps calming me down, as I am VERY skeptical that this will all work out

Type of Loan: VA 30 year fixed

Inspection:

Purchase contract addendums:

Loan Rate: 4%

Application submitted:

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered:

Appraisal Completed:

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 3-20-2015

Re: March 2015 CLOSERS!!!!

Anonymous — Thu, 12 Feb 2015 02:39:57 GMT

@Anonymous wrote:

Home Location: Newnan GA
Purchase Price: $155,000 (With sellers paying closing cost up to $4650.)
Property: House- ~2800 sqft
Submitted Offer on: 01/20/2015
Signed Contract on: 01/27/2015
Ernest (Deposit) Money: $1000
Lender Name: Brightpath Mortgage
Notes about Lender: Excellent... Loan Officer very helpful even on weekends.
Type of Loan: FHA 30 year fixed
Inspection: 01/29/2015
Purchase contract addendums:
Loan Rate: locked at 3.5%
Application submitted: Will be tomorrow (02/09/2015)
Loan Processing:
Mortgage Commitment Letter:
Appraisal Ordered: 02/11/2015
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/09/2015

I just wanted to update my post. We ordered the appraisal today - February 11th 2015. It cost $425 which was a surprise expense. For some reason I thought the appraisal fee was coming out of the closing cost.

Re: March 2015 CLOSERS!!!!

frugalQ — Thu, 12 Feb 2015 02:53:35 GMT

The appraisal expense does come out of closing costs. However, it's different because the buyer pays it upfront and it's credited back at closing.

Re: March 2015 CLOSERS!!!!

andemalia — Thu, 12 Feb 2015 18:38:34 GMT

@Anonymous wrote:
@Anonymous wrote:

Home Location: Newnan GA
Purchase Price: $155,000 (With sellers paying closing cost up to $4650.)
Property: House- ~2800 sqft
Submitted Offer on: 01/20/2015
Signed Contract on: 01/27/2015
Ernest (Deposit) Money: $1000
Lender Name: Brightpath Mortgage
Notes about Lender: Excellent... Loan Officer very helpful even on weekends.
Type of Loan: FHA 30 year fixed
Inspection: 01/29/2015
Purchase contract addendums:
Loan Rate: locked at 3.5%
Application submitted: Will be tomorrow (02/09/2015)
Loan Processing:
Mortgage Commitment Letter:
Appraisal Ordered: 02/11/2015
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Scheduled for 03/09/2015
I just wanted to update my post. We ordered the appraisal today - February 11th 2015. It cost $425 which was a surprise expense. For some reason I thought the appraisal fee was coming out of the closing cost.

We ordered ours a day before you. Along with the inspection those were the only out of pocket costs for us. Do you know when yours is scheduled for?

Re: March 2015 CLOSERS!!!!

andemalia — Thu, 12 Feb 2015 18:43:44 GMT

Home Location: Prince George's County, MD

Purchase Price: $265k no conditions

Property: Townhome - 1432 sq ft

Submitted Offer on: 02/01/15

Signed Contract on: 02/03/15

Ernest (Deposit) Money: $2650

Lender Name: Academy Mortgage

Notes about Lender: Awesome!! Available, friendly and so helpful!!

Type of Loan: FHA 30 year fixed

Inspection: 02/09/2015 went great, very minor issues, no repairs needed

Purchase contract addendums: 02/10/15 Home warranty

Loan Rate: 3.5%

Application submitted: 02/09/15

Loan Processing: 02/09/15

Mortgage Commitment Letter:

Appraisal Ordered: 02/09/15

Appraisal Completed: 02/11/15

Went to underwriting:

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/13/2015

Re: March 2015 CLOSERS!!!!

frugalQ — Thu, 12 Feb 2015 18:48:33 GMT

here's my update:

Home Location: Georgia

Purchase Price: $450,000

Property: Single Family home - 4,300 sq ft (6,000 sq ft including basement)

Submitted Offer on: 08/29/14

Signed Contract on: 09/06/14

Ernest (Deposit) Money: $7,500

Lender Name: Academy Mortgage

Notes about Lender: Love, love, love my LO

Type of Loan: 80/15/5 conventional

Inspection:

Purchase contract addendums:

Loan Rate: 4.250 (with no origination fee)

Application submitted: 08/15

Loan Processing: went through QC and straight to underwriting

Mortgage Commitment Letter: 2/6/15

Appraisal Ordered: 2/11/15

Appraisal Completed:

Went to underwriting: 1/26/15

Underwriting Complete: 2/6/15

Final Approval:
Walk Through:

Closing Date: Scheduled for 03/19/2015

Re: March 2015 CLOSERS!!!!

guykara — Thu, 12 Feb 2015 20:25:43 GMT

I'm so happy I can finally post my details in this type of thread!!!

Home Location: Suffolk, VA

Purchase Price: 289,000

Property: Townhome - 2212 sq ft

Submitted Offer on: New build, started the process in June 2014

Signed Contract on:

Ernest (Deposit) Money: ~$14,00

Lender Name: Monarch Mortgage

Notes about Lender: Great to work with! Also the builders preferred lender

Type of Loan: FHA 30 year fixed

Inspection: TBD

Purchase contract addendums:

Loan Rate: 3.75%

Application submitted:

Loan Processing:

Mortgage Commitment Letter:

Appraisal Ordered:

Appraisal Completed:

Went to underwriting: This week

Underwriting Complete:

Final Approval:
Walk Through:

Closing Date: TBD, but will be in March