August 2020 Closers

[Anonymous]

Blue Tape: Completed and thumbs up

Appraisal: Rescheduled on us 4 TIMES...set for tomorrow @9am.  Says our lender told them Friday is the need by date and he will meet the date. 

Able to take advantage of median score increase to new tier: (FROM 3.625 1 point  TO 3.375 1 point)  PMI also reduce by about $100

Currently in UW

On target for Aug 14th close

Pins and Needles..Did I say we are on Pins and Needles? lol

Sending positive vibes to everyone

[Anonymous]

Tomorrow morning at 9am we go to the bank to close! We are so excited and nervous! We did our final walk through tonight and all looks good. Tomorrow we will officially be homeowners for the first time!

I hope everyone else is moving along smoothly. Keeping my fingers crossed for everyone to meet or beat their deadlines!

[Mr_Glass]

Clear to close yesterday, orientation on the new house tomorrow and actually closing Aug 14th, a month earlier than estimated when I started back in March. So far (knock on wood) its been VERY smooth both the build and the loan process. I stayed in contact with my LO throughout the lockdown and crazy income fluctuations, let them know everything that was happening and they were GREAT working through all the stuff the world is going through. K Hov for the win!

[Anonymous]

Purchase Price price: $308,900

Down Payment: 5%

Product: Conventional

Mid-Score: 731

Rate: 3.25%

Closing Date: August 28

Notes: New construction. Loan commitment and appraisal are due August 9. Walkthrough with builder is August 24. This construction was already in progress when we made the offer in July so we are anxious.

I haven't heard from my lender since we discussed my loan application and it was sent in, is that normal? Credit and income are fine. I just had a lot of hoops to jump through last house I bought so I thought it'd be more of the same.

[polian]

Our much-delayed appraisal (not their fault, they did an excellent job - lack of nearby comps) finally came back yesterday 15k under sales price. Today the builder agreed to adjust sales price to match the value. I have no nails left after the last couple of days, heh.

[Anonymous]

Sooo frustrated.  Still no appraisal report received today after he promised to turn it around.  He rescheduled 4 times since last week and promised to deliver it today. Ughhh

Bank said as long as we get it early Monday morning we will be good.  
Re- inspection is Tuesday and CD is also due Tuesday; close date is 08/14/20. Final walkthrough from blue tape is Thursday afternoon.  Close is Friday.

Still in UW (3 days) and no CTC as of yet. Sooo ready for all this to be over.

[C_DUBYA]

Purchase Price price: $338,000

Down Payment: 3.5%

Product: FHA (Due to bk7 3 years ago)

Mid-Score: 680 me, 650 wife

Rate: 3.00%

Closing Date: August 5th - we are closed!

Seller has a 45 day occupancy paying us daily so no keys yet but the backend is done!  

[Anonymous]

Heard 3 words today that made me very very happy.  

CLEAR. TO. CLOSE.  

Been repairing since 2018 and thanks to this community have risen from a 580 to a 747 FICO 8.  

Mortgage price:  320,000

Downpayment: 17,000 (5%)

Rate: 3.00%
Fixed 30 year.

Middle mortgage FICO is 730.  Underwriting was a breeze. 

thanks to everyone who shares here. 

[Anonymous]

Just to post some answers to questions I had:

Conventional loan

1) underwriter didn't care about two NSF fees in 60 day look back period.  We used the automated 60 day application (that connects directly to your bank account) rather than bank statements which were cut at inconvenient times for a closing and ending balance. 

2)  underwriter didn't care about multiple jobs ( 5 in 2 years).   Current is over 8 months and were significantly leveling up (contract work for the precious jobs. Full time for current job).

3) no reserves needed.  

720 seems to be the magic score to get this leniency.  So shoot for that if you can.  

[StarraeAday1]

Closing is scheduled for Friday....but I found out today that I'm positive for COVID and closing may need to be delayed because hubby and I are in quarantine.