topic Re: September 2015 closers!!!! in Mortgage Loans

September 2015 closers!!!!

Anonymous — Mon, 14 Sep 2015 18:29:24 GMT

I didn't see where this was started yet. 4 days and counting!

Purchase Price: $50,000
Property: Single Family 2-story
Submitted offer on: July 11th
Signed Purchased contract on : July 13th
Type of Loan: USDA Direct
Loan Rate: 3.25%
Loan Application submitted: June 5th
Loan approved: July 16th
Committment letter received on: September 3rd
Closing date: September 18th
Closed on: Pending

Good luck everyone!!!

Re: September 2015 closers!!!!

Anonymous — Thu, 06 Aug 2015 20:46:44 GMT

Hello!! This is my very first post. I've only been lurking for about a week. I am scheduled to close on 9/11!! Whoot Whoot!!

Purchase Price: $140k
Property: Single Family 2-story
Submitted offer on: July 27
Signed Purchased contract on : July 29
Type of Loan: FHA
Loan Rate: 3.875% (may change)
Loan Application submitted: Aug 4
Loan approved: still in underwriting
Committment letter received on:
Closing date: September 11th
Closed on: Pendng

Re: September 2015 closers!!!!

Wovenyarn — Thu, 06 Aug 2015 23:54:36 GMT

Purchase Price: $326k
Property: Single Family 2-story
Submitted offer on: Aug 2
Signed Purchased contract on : Aug 3
Type of Loan: VA
Loan Rate: 4.0%
Loan Application submitted: Aug 4
Loan approved: still in underwriting
Committment letter received on:
Closing date: September 18
Closed on: Pendng

Re: September 2015 closers!!!!

YankeeNation — Fri, 07 Aug 2015 16:19:41 GMT

Hello everyone... First time homebuyer here..

Purchase Price: $178k
Property: Single Family Home (New Construction)
Signed Purchased contract on : July 1
Type of Loan: FHA
Loan Rate: 3.875% (may change)
Loan Application submitted: Aug 5
Loan approved: still in underwriting
Closing date: September 16th
Closed on: Pendng

Re: September 2015 closers!!!!

Anonymous — Thu, 20 Aug 2015 01:22:55 GMT

YAY! Finally the long wait is almost over!

Purchase Price: $230,000
Property: Single Family 2-story (New Construction)
Submitted offer on: April 13th
Signed Purchased contract on : April 13th
Type of Loan: Conventional
Loan Rate: 4.00% (may change)
Loan Application submitted: May 15th
Loan approved: May 29th
Committment letter received on: June 5th
Closing date: September 23rd
Closed on: Pendng

Re: September 2015 closers!!!!

Anonymous — Thu, 20 Aug 2015 14:35:41 GMT

Is this real life?? Eeeek!!

Purchase Price: $151,000
Property: Single Family 2-story
Submitted offer on: August 7th
Signed Purchased contract on : August 11th
Type of Loan: FHA
Loan Rate: 4.2% (may change)
Loan Application submitted: August 12th
Loan approved: August 13th
Committment letter received on:
Closing date: September 27th
Closed on: Pendng

Re: September 2015 closers!!!!

Anonymous — Thu, 20 Aug 2015 15:17:22 GMT

After a week and a half on vacation, my LO is FINALLY back in the office. Just waiting on her to give me the results of the appraisal which was completed TWENTY-THREE DAYS AGO!!! This is the only thing i'm waiting on before ordering the inspections. I emailed my 1st time homebuyers ed course certificate to her this morning to jog her memory that I'm still out here...waiting....on her....and got back a response saying she is super swamped and trying to get through everyone as fast as she can.

I'm hoping the 14th is still going to be doable as i know there will be appraisal and inspection contingencies.

Good luck to everyone!! Hope your bumps aren't as big as mine have been, although I know it could be worse.

Hopefully only 3 1/2 weeks till I'm a HOMEOWNER!!!! I'm SOOOOO excited and ready!

Re: September 2015 closers!!!!

Anonymous — Mon, 24 Aug 2015 14:12:17 GMT

I hope to be a September closer!! Does anyone know if they do a credit check at closing??

Timeline:

Application Date - 5/1/2015

COE Received - 6/15/2015

In Contract - 7/15/2015

Funding Committment/GFE & TIL Statements Received - 8/17/2015

Appraisal - 8/19/2015

Closing Date - Pending

Re: September 2015 closers!!!!

Anonymous — Mon, 24 Aug 2015 15:33:53 GMT

@Anonymous wrote:
I hope to be a September closer!! Does anyone know if they do a credit check at closing??

Timeline:
Application Date - 5/1/2015
COE Received - 6/15/2015
In Contract - 7/15/2015
Funding Committment/GFE & TIL Statements Received - 8/17/2015
Appraisal - 8/19/2015
Closing Date - Pending

I think it depends on your Lender and how old your numbers and docs are.

Re: September 2015 closers!!!!

Anonymous — Mon, 24 Aug 2015 15:40:18 GMT

Appraisal results came back great!!! 5k over offer!!! And only a few minor conditions that the seller has already agreed to cure completly and has already started work on!!!

Ordered the inspections (Sept 1st) and the realtor is already trying to work her magic to get them done earlier!

SO FAR, closing is still set for 9/14.....3 WEEKS FROM TODAY!!!! Is this for real?!

Re: September 2015 closers!!!!

Anonymous — Thu, 27 Aug 2015 20:54:50 GMT

Purchase Price: $328,000
Property: Single Family 2-story
Submitted offer on: July 30th
Signed Purchased contract on : July 30th
Type of Loan: FHA
Loan Rate: 3.75%
Loan Application submitted: July 23rd
Loan approved: July 34th
Commitment letter received on: 8/24
Closing date: September 8th
Closed on: Pending

After the seller tried to pull some funny business (because he procrastinated on getting his stuff out of the house, he tried to extend closing to the end of September) we agreed to close on September 8th. All our conditions clear. Everything appraised perfectly. I can't believe how seamless it all went exactly two years post bankruptcy. Our LO had us ready to close our loan this Friday, less than 30 days from our offer.

Re: September 2015 closers!!!!

webs0082 — Thu, 27 Aug 2015 15:13:15 GMT

Purchase Price: $284,500
Property: Single Family 2-story
Submitted offer on: August 20
Signed Purchased contract on : August 21
Type of Loan: FHA
Loan Rate: 3.625%
Loan Application submitted: August 26
Loan approved: in underwriting
Committment letter received on:
Closing date: September 25
Closed on: Pendng

Re: September 2015 closers!!!!

Wovenyarn — Thu, 27 Aug 2015 15:18:41 GMT

@Wovenyarn wrote:
Purchase Price: $326k
Property: Single Family 2-story
Submitted offer on: Aug 2
Signed Purchased contract on : Aug 3
Type of Loan: VA
Loan Rate: 4.0%
Loan Application submitted: Aug 4
Loan approved: still in underwriting
Committment letter received on:
Closing date: September 18
Closed on: Pendng

I just wanted to update my post.

Since part of my child support could not be counted, we had to find a new house. Here are my new stats:

Purchase Price: $255k
Property: Single Family 2-story
Submitted offer on: Aug 22
Signed Purchased contract on : Aug 24
Type of Loan: VA
Loan Rate: 4.0%
Loan Application submitted: I didn't submit a new loan
Loan approved: still in underwriting
Committment letter received on:
Closing date: September 29
Closed on: Pending

Re: September 2015 closers!!!!

Anonymous — Thu, 27 Aug 2015 18:43:55 GMT

I just learned I may be part of this group! Although it's not likely, Escrow is shooting for a 9/22 closing date but the house won't be completed until est 9/25.

Purchase Price: $320,000.00
Property: Single Family 1 story new build
Submitted offer on: August 14th
Signed Purchased contract on : Aug 14th
Type of Loan: VA
Loan Rate: 3.75%
Loan Application submitted: TWICE (had to dump first LO), First date: 8/14, Second Lender: 8/24
Loan approved: Pending
Committment letter received on: Pending
Closing date: September 22nd (I highly doubt it)
Closed on: Pending

I'm pulling for everyone!

Re: September 2015 closers!!!!

Anonymous — Wed, 02 Sep 2015 02:20:52 GMT

Purchase Price: $184,000
Property: Single Family
Submitted offer on: July 30th
Signed Purchased contract on : August 5th
Type of Loan: FHA
Loan Rate: 4.0% (may change)
Loan Application submitted:August 6th
Loan approved: Currently in underwriting.
Committment letter received on:
Closing date: September 11th
Closed on: Pendng

Re: September 2015 closers!!!!

Anonymous — Wed, 02 Sep 2015 17:29:31 GMT

Purchase Price: $243,000
Property: Single Family 2-story
Submitted offer on: Aug 20th
Signed Purchased contract on : Aug 20thth
Type of Loan: FHA
Loan Rate: 4.25%
Loan Application submitted: Original app in May 2015 - Preapproval in Aug 2015
Loan approved: Preapproved - Currently in underwriting waiting on committment
Committment letter received on:
Closing date: September 22nd
Closed on: Pendng

This has been the longest, craziest endeavor. I feel like we are so close yet so far away from the 22nd! We found out we were having a baby in April and decided to get the ball rolling on purchasing a home. Currently, we have a two bedroom villa with an 11yr old boy and two dogs so adding a baby at this residence wasn't really an option. I had been working to pay off outstanding collections, two judgments and boosting my credit score from the low 500s to at least a 580 which was the lender's requirement. I raised my score since April to the 640 to 650 range by doing several things. I paid off old collections, I used and paid off my secured credit card every month, I became an authorized user on a close friend's CITI card, and I disputed inaccurate remarks on my reports. When I went to apply for the loan I applied with both my husband and I. Ultimately, he had to be removed because his score was too low with too many issues so I reapplied on my own. You cannot have any disputes on your credit report to be approved for a mortgage so this was a hang up over at least a month as I tried to get them removed. I was starting to get worried because every time the lender ran my credit report there were still disputes or debts showing as unpaid that WERE paid. Finally, after hard hard work going back and forth with collectors and the credit bureaus, I was able to get pre-approved by the lender! What sweet news to receive! Within a week or so we had found a home we loved. (Lucky, I know!) Once we made an offer, things started moving very quickly. I keep getting asked for updated documents and various other info, but from what I can tell, this is all normal. We got the inspection and appraisal. We asked the sellers to make a few fixes and pay all closing costs which they agreed to so this is saving us quite a bit. We plan on using that extra money to replace the carpet before we move in. It gets so confusing, trying to understand closing costs vs down payments. Because my credit score isn't great, home owners insurance is going to cost more than I would like, but we will revisit in a year after we've paid on time consistently and my score is higher. Adding the auto insurance saved quite a bit of money. I hope this helps others who may be in the same situation. The main factor that helped me get to this stage is resolving old collection issues. I had to save every penny and pay them off as I could. Even if your score doesn't go up significantly, having these items marked as PAID is critical to the home buying process, at least from what I have experienced. Getting preapproved is really vital to avoiding hiccups and even after preapproval you may still have some obstacles to over come. Finding a lender and agent that are willing to go the extra mile to help you understand the requirements is really the best way to go. I will provide an update soon. 20 days to go!

Re: September 2015 closers!!!!

Anonymous — Wed, 02 Sep 2015 18:38:04 GMT

Purchase Price: 225k
Property: Single Family Rambler
Submitted offer on: July 25th
Signed Purchased contract on : July 28th
Type of Loan: VA
Loan Rate: 4.1%
Loan Application submitted: Aug 17th
Loan approved: Aug 25th
Committment letter received on:
Closing date: September 4th
Closed on:

Re: September 2015 closers!!!!

Anonymous — Wed, 02 Sep 2015 23:55:24 GMT

Purchase Price: $365,000 (unofficially, I heard the appraisal is a bit low at $361k, but still waiting on report)
Property: Single Family 3-story
Submitted offer on: July 19th
Signed Purchased contract on : July 27th
Type of Loan: NACA, 15yr
Loan Rate: 0.85% (may change slightly)
Loan Application submitted: August 24th
Loan approved: (waiting on appraisal and potential resolution)
Committment letter received on:
Closing date: September 11th
Closed on:

Re: September 2015 closers!!!!

Anonymous — Thu, 03 Sep 2015 14:01:30 GMT

Received my commitment letter via email this morning!!! closing may end up being delayed a bit due to Labor day but I'm still crossing my fingers for 9/14!!!

11 days!

Re: September 2015 closers!!!!

Anonymous — Sat, 05 Sep 2015 01:31:28 GMT

Got appraisal, came in above purchase so no changes needed!

Re-inspection also came back, accepted.

All that's left is for BoA to process the paperwork for those two items and clear the remaining conditions that have been addressed!