August 2020 Closers

[Anonymous]

We just had a few standard docs we had to submit after we came outbof underwriting. The appraisal was late so everything is back in underwriting now. My realtor said she talked to the lender on Monday and she said they already have loan commitment, just waiting on appraisal so hoping to hear something today or Monday. 

The seller still hasn't had the garage roof done and no idea on when yet. He has to have it done by August 3rd or we have to push closing back. Well and septic testing is the 27th. He sure waited forever to get these tests done. He hadn't even ordered the appliances until 2 weeks after our accepted offer. The nice thing was since he waited so long we got to pick our own so we got a cooktop and wall oven instead of regular stove. 😁 they will just be here really close to closing or just after. 

15 days to close and I am excited. 

[Mr_Glass]

Wow! Can't believe I finaly made it here to this page haha! 

Purchase Price: $220,000 (new construction)

Down Payment: 3.5% 

Product: FHA 30-year

Mid-Score: 702

Rate: 2.875%

Closing Date: August 14

This has been a CRAZY CRAZY ride! I started with a signed contract for a new build back on March 16th right as all this crazy virus stuff was kicking in. To make it even MORE interesting I am self employed and did not have much income for a few months due to the lockdown, that has been my biggest fear was DTI ratios missing almost 3 months of income. I was assured that they would make some adjustments to income calculations due to Covid and it appears all is fine. Submitted requested docs last week, locked in the rate and got a cose date of Aug 14th. Inspection is scheduled for next Tuesday and I am now finaly letting myself get excited! It has been a long, nerve wracking experience to say the least. But its not done yet (crosses fingers and says a prayer) 

[Anonymous]

We are trucking a long nicely. We have been cleared through underwriting, except for the last review which is for our deposit of 401k funds for closing costs, which we cant do until Thursday at the earliest due to bank hours. We have gotten our title insurance letter, title commitment letter, loan commitment letter and appraisal back. Appraisal came back 5k over what we are paying so we will have equity already. Just waiting on the seller to get HIS stuff done. Closing is supposed to be in 9 days. 

[StarraeAday1]

I'm glad to see that everyone seems to be doing well! I got notification yesterday that our file moved from processing to underwriting, so now I'm just waiting to see what they want from me. I also got a copy of the appraisal which came back right at sales price, so we're all good there. Fingers crossed everything continues to go well. As far as I know, closing is still set for August 14. Good luck to everyone!

[Anonymous]

Ok I am starting to freak out here! I just signed my Closing Disclosure this morning. Does this mean I am Clear to Close? Closing is Set for 8/4.  But it seems like my lender mentioned my file will go to underwriting after I signed?? This is so nerve wrecking...

[Anonymous]

It does make me happy to see everyone posting that their process is moving along smoothly. Sending positive vibes for us all. In a few weeks, we will be enjoying our new homes.

[Anonymous]

Happy to see that everybody is on track. We were conditinal approved by UW, submitted all conditions last weekend & waiting for a response. We are also waiting on the appraisal which was scheduled for 7/27 but they have until 7/31 to send us the report, hopefully evrything will be OK with the appraisal. We're scheduled to close on 8/31 so I think we're ok so far. I'll keep you posted guys lol. 

[polian]

Purchase Price: $265,000 (new construction)

Down Payment: 0%

Product: 15 year VA

Mid-Score: 638

Rate: 3%

Closing Date: 8/7

I'm here from the July thread! Original date was 7/30. There are some show-stopping issues to straighten out with the house and the appraisal was delayed but should be returned today. NFCU has been a dream to deal with so far.

[Anonymous]

Inspection: Satisfactory

Appraisal: Monday, August 3rd

Blue Tape: Tuesday, August 4th

Homeowner Insurance Company reached out and said lender requested proof of insurance (hope this is a good sign)

Pulled new mortgage scores today on MyFico and median score made it to the next tier (641 from 630s).  Reaching out to LO to see about getting lower interest and PMI rates. Current disclosure rates are 1 point for 3.6% fixed 30 years Conventional/PMI is not pretty.

Still on target to close August 14th....Fingers and Toes still crossed.

[tags03]

Purchase Price: $169,000
Down Payment: $30,000 NCHFA DPA /MCC
Product: FHA 30-year
Mid-Score: 653
Rate: 2.5%
Closing Date: August 21st

I have a conditional close based on the appraisal and home inspection. The roof was recently replaced but still has some structural issues. The seller is a contractor and is doing the work himself. Other than that, the house is turnkey. Built in 1924 and completely updated in 2020. Went with Fairway Independent Mortgage and it was a breeze. They kept me informed, were polite, explained every document I looked at, and signed.  No hiccups throughout the entire process.  Once the roof is cleared, I can be cleared by the DPA and sent to closing!  My first home and it was easier than I ever thought it would be!