APRIL 2015 CLOSERS

[Anonymous]

Home Location: Denham Springs, Louisiana
Purchase Price: $156k
Property: Single-family detached home, 1584 sqft, Built in 2007
Signed Contract on: March 2, 2014
Earnest (Deposit) Money: $500.00
Lender Name: Local Mortgage company  GMFS
Notes about Lender: No opinion Current lender swooped in and helped us after dealing with a lender who was not knowledgeable about USDA loans and was unwillingly to really help us. So far, communication has been great. I just hope things continue to go as expected.
Type of Loan: USDA FHA
Inspection: March 10, 2015 All went well-very minor issues that we will fix ourselves. Cost is less than $500 total and nothing is urgent.
Purchase contract addendums:
Loan Rate: locked 3.85%
Application submitted: Preapproval February 19, 2015
Loan Processing: Ongoing
Mortgage Commitment Letter:
Appraisal Ordered: Paid for it today (3/11)- has not been scheduled yet. Appraisal is scheduled for April 1 at 10:30 am.
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: April 24, 2015. My lease is up Apri 26th

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April 1 Updates 

[apeydee416]

All I got today was "underwriter said she would try and review/sign the conditions and then meet with management. I will let you know when I see something".

Any guesses what I heard? Begins with "not" and ends with "hing".

And I seriously think my email is trolling me. I actually got an email that stated a malls operating hours.. Not even a local mall. I was all excited to hear the chime. haha

[sarux3]

Wanted to update last night, but it was a pretty busy day. WE CLOSED!!!! No last-minute problems, except the seller had left a few items behind that we discovered on the final walkthrough, but she came to the house to collect all of those after closing. We were in and out of settlement inside of an hour, the sale got recorded before the records office closed, and in the end we got our ENTIRE $2000 EMD back, since the final closing costs came in under estimate and the 3% seller concession took care of the whole shebang!

We spent the night camped out at the new place with an inflatable mattress, lol. Wanted to enjoy the first night of homeownership before contractors started coming in this morning to start work on the replacing all the polybutylene pipes in the house (Paid for by seller! Props to my agent for negotiating that one!). DW and I are just so thrilled to have gotten to this stage of our lives! And I know we couldn't have gotten here without all the advice and support of all you wonderful myFICOers, so thank you so, so much everyone!!!

[apeydee416]

Yay!!! Congrats!!!

Question - Since you closed on the first, what was the pre-paid interest costs like on your closing costs?

[Anonymous]

In addition to all the regular reasons for being excited about closing...

What are you really excited about?

I think I'm most excited about painting! I'm so ready to have color on my walls... and adopting a dog.

[wac021]

Home Location: Redding, CA
Purchase Price: $223,000
Property: Single-family detached home, 1483 sqft, Built in 2011
Signed Contract on: March 20, 2014
Earnest (Deposit) Money: $1,000.00
Lender Nameummit Funking
Notes about Lender: No opinion
Type of Loan:FHA
Inspection: March 31, 2015 All went well minor issues that hopefully the sellers won't have a problem getting fixed.
Purchase contract addendums:
Loan Rate: locked 4.12%
Application submitted: Been getting our credit in order since August last year and met w/ the lender for the first time in January.
Loan Processing: Ongoing
Mortgage Commitment Letter:
Appraisal Ordered: Appraisal ordered but not sure when will happen.
Appraisal Completed:
Went to underwriting:
Underwriting Complete:
Final Approval:
Walk Through:
Closing Date: Tentatively set for 04/17/2015 but I won't be surprised if it gets pushed back a week.

[Anonymous]

Our file should be going to underwriting early next week.  I'm so nervous.

LO did seem concern with my husband's school refund check being deposited into our bank account. It is not being used for downpayment but she said it could raise a red flag for undisclosed student loans. All loans have been disclosed but we still don't want to raise any red flags due to possible delays and added stress. Anyone deal with this? Any advice? LO thinks that we can send in a letter from bank disclosing our current balance and average balance. hmmm IDK

[sarux3]

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@apeydee416 wrote:

Yay!!! Congrats!!!

Question - Since you closed on the first, what was the pre-paid interest costs like on your closing costs?

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Oh, it was pretty much what you'd expect, a full month's worth of interest.. somewhere around $1350, if I recall correctly.  No skin off my teeth since the seller ultimately covered that cost in the end with her CC concession!   

[Anonymous]

Congratulations!  That was an uber quick close.  You guys must have slept well last night!

[frugalQ]

Congratulations to all who closed or got further along in their process this week.

We are wiring our funds tomorrow. Yeah!!!!