topic Re: May and June Closers in Mortgage Loans

May and June Closers

Anonymous — Tue, 27 Mar 2012 20:49:18 GMT

So I haven't seen a thread for May and June. Now that things are feeling a little more realistic for me, I thought I would start one!!

Listing Price: $272,313 (builder contributing $8k toward closing costs)
Property: New Construction
Submitted offer on: 1/18/2012
Signed Purchased contract on : 1/22/202
Type of Loan: FHA Loan (First Guaranty)
Loan Rate: Not sure yet. We aren't Locking until rates get better
Loan Application submitted: 3/16/2012
Loan approved: 2/28/2012 3/17/2012
Committment letter received on: 1/17/2012
Closing date: May 10, 2012
Closed on: Not yet

Company has all of our paperwork and we are currently waiting additional underwriting conditions. We have challenged credit, so we shall see what comes back!!!

Re: May and June Closers

Anonymous — Fri, 27 Apr 2012 15:42:38 GMT

Listing Price: $124.900 offer accepted at $111,111.00 (We used our wedding date for our highest & best offer )
Property: Traditional 2 Story Home built in 1910
Submitted offer on: March 11, 2012
Signed Purchased contract on : March 15, 2012
Type of Loan: USDA Direct
Loan Rate: 3.25%
Loan Application submitted: early February 2012
Loan approved: mid February 2012
Committment letter received on: April 20, 2012
Closing date: Supposed to have been May 11, 2012 for our 6 month anniversary, but our LO says May 2, 2012
Closed on: Soon!!

Re: May and June Closers

Anonymous — Thu, 26 Apr 2012 12:32:53 GMT

Yeah Suzy!!

Re: May and June Closers

rckstrscott — Thu, 26 Apr 2012 12:58:22 GMT

Listing Price: $185,000
Submitted offer on: March 26, 2012
Signed Purchased contract on : March 29, 2012
Type of Loan: FHA
Loan Application submitted: Early April
Loan approved: stilllllll waiting...
Closing date: Before May 31st, per the contract
Closed on: who knows!

Yeah.. In a bit of a holding pattern waiting for the seller to do a few things, hopefully will have an actual estimated close day in the next couple days!

-scott

Re: May and June Closers

ReBuild-OH17 — Thu, 26 Apr 2012 14:34:03 GMT

Listing price$85,000
Property type single family home built in 1973
Submitted offer on 4/11/12
Offer accept 4/12/12
Fha loan
3.875%
Loan app submitted April 19th
Loan approved? Not sure, havent been through underwriting with this house.But my credit was approved with a previous house.
No commitment letter yet
Closing date: by the the end of May

Re: May and June Closers

Anonymous — Thu, 26 Apr 2012 22:51:05 GMT

Listing Price: $109,980 Purchase Price: $105,500 $2,500 towards closing costs now $500 because we are sharing the cost for a new roof
Property: Ranch all brick
Submitted offer on: 3/24/2012
Signed Purchased contract on : 3/26/2012
Type of Loan: FHA Loan (Charter One) $3100 gift money towards down payment
Loan Rate: 3.75
Loan Application submitted: 3/26/2012
Loan approved: 3/26/2012
Committment letter received on: 4/18/2012
Closing date: May 7, 2012 tentatively (appraisal this Friday)
Closed on: Not yet

Re: May and June Closers

Anonymous — Fri, 27 Apr 2012 01:16:17 GMT

Thanks Catacam! Yayyy for you too!

YYYYYAYYYYYYY for all of us!!!!

I should maybe be more excited, but I think the other house dimed my heart light a little. After we close it will look like a tacky Christmas tree!!!! I love those the most!!!!

I wish you could all come to my house warming, cause we wouldn't have gotten here without al of you!!!

Re: May and June Closers

Anonymous — Fri, 27 Apr 2012 12:20:40 GMT

I get so excited reading everyone's post. We are almost there : )

Mid Credit Score: 620
Listing Price: 124,900 (short sale)
Purchase Price: 119,400 with seller paying $2,400 in closing, survey, and 1 year home warranty
Property: Existing Single family home
Submitted offer on: January 31, 2012..Seller accepted 02/01/12 but waiting on bank to accept offer. (short sale)
Signed Purchased contract on : 03/01/2012... we went back and forth with counter offers 03/28/2012
File submitted to Lender: 03/28/2012
Type of Loan: USDA RD Guaranteed ... We have a pre approval from Core Finanacial
Loan Rate: 4.25 locked 04/23/12
Commitment Letter Received: 04/23/12

As it stands right now we are waiting to have an appraisor reinspect our property because they noted in the report about a broken trampoline and a missing interior door. The door was just off the hinge (from when the seller moved). I was really upset about having to be charged for a reinspection when come to find out the realtors knew the trampoline would be a problem. Why would they wait for me to pay 440.00 for an appraisal knowing another one would be needed. I have requested that they pay for the reinspection. I as a first time homebuyer did not know it would be a problem... me and my husband would have taken care of it ourselves if we had to.

Also we are getting a WDO done. I had the house inspected for termites but never got a WDO because it was not required. My broker stated that this past week the USDA required one of his buyers to get one so we are going to go ahead and knock it out. My broker still thinks that we will be closing sometime next week but we shall see.

I pray we all make it to closing and beyond : )

Re: May and June Closers

dead9uy — Fri, 27 Apr 2012 23:16:48 GMT

Man, where do you guys all live?? I see all of these home prices and they are so low. I am envious. I live in Portland, OR. and finding a place that is reasonably move-in ready in a desirable neighborhood will run you at least $350k- $400k.

Re: May and June Closers

cabronsaim — Fri, 27 Apr 2012 23:28:38 GMT

@dead9uy wrote:
Man, where do you guys all live?? I see all of these home prices and they are so low. I am envious. I live in Portland, OR. and finding a place that is reasonably move-in ready in a desirable neighborhood will run you at least $350k- $400k.

OR is so expensive, so is CA where I'm at, but 350-400k means you are looking at nice neighborhoods.

Other posters are probably in cheaper states ike TX, AZ , NM, etc.

Re: May and June Closers

ReBuild-OH17 — Sat, 28 Apr 2012 00:01:33 GMT

I'm in Ohio

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 00:26:18 GMT

I live in Illinois. My house was in foreclosure sold at reo and rehabbed. It's in an established good neighborhood. I really got lucky with this one especially being a first time buyer and single mom,

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 02:25:09 GMT

I am in Lake Asbury, Florida near Jacksonville. My house is in a great neighborhood but it is not a new home. I am going to have to make some upgrades in the kitchen etc but it is a great neighborhood and perfect for my husband and I. The house has 5br/2bth just at 2,000 sqft. I am going to add molding to the kitchen cabinets and the center island, add hardware to the cabinets, lay black laminate flooring, stainless steel appliances and lots and lots of cleaning and painting! : ) OHhhh and lots of yard work needed. My house is a shortsale and the owners owe $220,000 but it is being sold to me for just over $119,000.

You can view my house pictures by clicking on the link below. You will see it is not the nicest house but perfect to me : )

HI blessed92380,

I removed that link because it shows someone's full name and that is a big privacy concern. If you can edit out the name you're welcome to re-post the pictures.

MarineVietVet, myFICO moderator

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 01:58:24 GMT

I dont blame you for loving your new home, I am wishing you the best.

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 04:48:20 GMT

Had looked at homes for about a month before preapproval

Loan commitment: March 19

USDA guaranteed at 3.75%

Searched for some more homes and procured a realtor to let us in!

First home offer accepted: April 5 (canceled contract due to some mold issues)

Second home offer accepted after multiple counters: April 12 for

Asking price : 163k priced was dropped a week before from 167k

Accepted price: 157500 (no closing costs though)

Inspection: April 16

Minor repairs were needed which the sellers agreed to make

Repair addendum added: April 23

Appraisal ordered April 23 (not sure when it will happen yet)

Set to close May 16th per realtor and loan officer

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 11:54:46 GMT

I am in Northeast Pennsylvania and the price I put in for my closing is actually average to pretty high for property around here. I think we are overpaying!...but I am ok with it cause I do really like our home, and plan to be there till we are old and gray. Not a lot is selling around here, so come get a deal!

Re: May and June Closers

CalifBlueBird — Sat, 28 Apr 2012 13:36:41 GMT

Yay, I get to join this thread. I am in the Seattle area. The paperwork demands for the mortgage are much more than when I purchased homes in the past.

Listing Price: $289,000. Purchase price $294,000 (There were multiple bids.)
Property: Built 1965, single family house on 1/2 acre
Submitted offer on: 4/9/2012
Signed Purchased contract on : 4/10/2012
Type of Loan: Conventional 20 year
Loan Rate: 3.875%
Loan Application submitted: 4/19/2012
Loan approved: pending
Committment letter received on: pending
Closing date: 5/24/2012
Closed on: Not yet

Re: May and June Closers

Anonymous — Sat, 28 Apr 2012 15:44:51 GMT

Lots of Northwesterners on this thread!!

I'm in Olympia and $272k is a great price on our house!! 5 years ago, it would have easily been $400k!!!

Congrats to all of us!!!

Re: May and June Closers

ReBuild-OH17 — Sun, 29 Apr 2012 17:00:04 GMT

@tasharn wrote:
I'm in Ohio

I should add that the house is located in one of the top rated school districts in Ohio, in a very nice neighborhood. The house is being sold to pay for the current owners medical bills, she lives in a nursing home. Houses for sale around the corner are for 140+k and 150+k. Dayton's cost of living is alot lower than the cities you all have mentioned.

Re: May and June Closers

JusdoNit — Mon, 30 Apr 2012 04:05:44 GMT

Hope to be closing in June. Can't wait to post my specifics once my offer is accepted