April 2017 Closers

[njacks85]

Purchase Price: $146,000
Signed Contract: 3/14/2017
Location: Nacogdoches, Tx
Property Type: Single-Family Home
New/Existing: Existing
Type of Loan: FHA
Loan Rate: 4.25%
Pre-Approval: 03/27/2017
Appraisal: completed: 04/7/2017 $149,000
Clear to Close: TBD
Closing Date: 4/27/2017
Closed On: TBD

[Anonymous]

Purchase Price: $119,000

Signed Contract: 03/08/2017

Location: Clarksville, IN

Property Type: Single-Family Home

New/Existing: Existing

Type of Loan: FHA 

Loan Rate: 4.25%

Pre-Approval: 03/23/2017

Appraisal: 4/4/2017

Clear to Close: 4/10/2017

Closing Date: 04/14/2017

Closed On: 04/14/2017

[Anonymous]

I would really love as to what people have for credit scores at the contract signing and what the closing costs came out to.

[njacks85]

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@Anonymous wrote:

I would really love as to what people have for credit scores at the contract signing and what the closing costs came out to.

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My wife has a middle credit score of 632 that was used. Sure wish we could have used mine since my middle score was 718. My closing cost and other prepaid expenses is going to end up around 7k plus 5100 for the downpayment for about 12,400 for total money needed to close on our loan of 146k.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Purchase Price: $154,500

Signed Contract: 03/28/2017

Location: Grand Rapids, MI

Property Type: Single-Family Home

New/Existing: Existing

Type of Loan: FHA 

Loan Rate: 3.875%

Pre-Approval: 04/14/2017

Appraisal: 4/6/2017 - waiting for results

Clear to Close: TBD

Closing Date: 04/27/2017

Closed On: TBD

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Just received Conditional Approval...getting closer..

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@Anonymous wrote:

Purchase Price: $150,000.00

Signed Contract: 03/28/2017 - resigned because of price change 4/20/2017

Location: Grand Rapids, MI

Property Type: Single-Family Home

New/Existing: Existing

Type of Loan: FHA 

Loan Rate: 4.375% - rate lock

Pre-Approval: 04/14/2017

Appraisal: 4/6/2017 - 150,000.00 4/18/2017

Clear to Close: 5/1/2017

Closing Date: 05/2/2017

Closed On: 05/2/2017

Closed Today...Yay!!..

[Anonymous]

Purchase Price: $255,000

Signed Contract: 4/7/16

Location: WA

Property Type: Single-Family Home

New/Existing: Existing (2010)

Type of Loan: 30YR Fixed 

Loan Rate: 4.25%

Pre-Approval: 3/3/2017

Appraisal: 4/6/2017

Clear to Close: 4/7/2017

Closing Date: 4/17/2017 (Original)

Closed On: 4/14/2017 (Amended)

Went with a mortgage company instead of Navy Fed or PenFed and have no regrets. From the initial offer to closing: 34 days total. Completely satisfied and more than happy to call myself a home owner. Cheers!

(Edited Portion)

Fico Mortgage scores average (622) Just barely enough for the VA loan through this mortgage company

Last late payment was about a year ago

3 Paid Collections on file

10 new credit cards opened and 2 loans taken out (car and debt consolidation) within the last 6 months

10+ inquiries on each credit bureau

My income: $83K a year

[Pineknot69]

Closing tomorrow!

Purchase Price: $365,032.00

Signed Contract: 10/02/2016

Location: Tn

Property Type: Single-Family Home

New/Existing: New 2017

Type of Loan: 30YR Fixed  VA

Loan Rate: 4.375

Pre-Approval: 10/03/2016

Appraisal: 4/09/2017

Clear to Close: 4/12/2017

Closing Date: 4/21/2017 (Original)

I can't thank you all enough. I've learned so much reading your stories and the ups and downs we all go through. I started out in the mid 500s and my (then fiance) was also struggling at about 575. I found this site, reading it almost every day. It took a while (5 years)!

In 2012 I decided to learn all I could to help improve our credit. We started reading the forums here and we learned so much. It was a hard road, took a lot longer to fix our credit than it took to destroy it!!

 Just kept our heads down, keeping things paid on time, avoiding new debt, automatic billing helped me tremendously. The bank automatically mails out my payment reliably when it's due. I love that! Sure beats looking for stamps all the time! 

But we close tomorrow!! Just wanted to say thank you all so much!! Even my kids are coming to me for advice now and I feel so good knowing I can send them to these forums to learn from all of you. Thanks!!

[JayTee1]

Adding new data, someone asked for additional info:

Purchase Price: $168,000

Signed Contract: May 2016

Location: Saline, MI

Property Type: Condo

New/Existing: New

Type of Loan: USDA - Rural Development - Guaranteed

Loan Rate: 3.875%

Pre-Approval: September 2016

Appraisal: January 2017

Clear to Close: April 25, 2017

Closing Date: April 28, 2017

Closed On: April 28 2017

Cash to close went way down to $2700 even though I'm paying an additional $1265 in points to extend the locked in interest rate ... it's very strange.  Property taxes were very, very low -- too low.  Mortgage company contacted me about this and said they (title company?) calculated them all very low, and I could ask to have it changed now or wait until loan was sold and new servicer did an escrow review.  I will proactively contact new loan servicer as soon as they sell the loan so I can get it fixed, but in the meantime will enjoy a lower payment and low closing costs.

Also, mid-score (Fico Mortgage) is 696.

An additional data point which I find very strange is they are not going to pull my credit again.  It was pulled in February 2017 for USDA, and they are telling me that pull is valid for 120 days.  

All of this is fine with me (lower closing costs and no more HPs, great!), just not what I expected.

[Anonymous]

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@njacks85 wrote:

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@Anonymous wrote:

I would really love as to what people have for credit scores at the contract signing and what the closing costs came out to.

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My wife has a middle credit score of 632 that was used. Sure wish we could have used mine since my middle score was 718. My closing cost and other prepaid expenses is going to end up around 7k plus 5100 for the downpayment for about 12,400 for total money needed to close on our loan of 146k.

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That is going to vary GREATLY from each person due to region, sales prices, loan amounts, incentives, taxes, etc.