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August Closers 2014

Valued Member

August Closers 2014

Updates in Pink!

Good luck August Closers!!!  


Home Location: Oakdale, PA (outside of Pittsburgh)

Purchase Price: $275,000

Property: SFH - 2240 sq ft

Submitted Offer on: 06/15/14

Signed Contract on : 06/16/14

Lender Name: Michael (Broker). 

Notes about Lender: Quick responses via email, very easy to work with, deals with my multitude of questions. When he was really busy one week, gave me the contact info of a partner in the firm so someone was always available to answer questions. 

Type of Loan: Conventional 15 year fixed

Inspection: 6/23/2014

Purchase contract addendums: 6/24/14

Loan Rate: 3.375%

Application submitted: 7/3/2014

Went to underwriting: 7/10/2014

Appraisal Ordered: 7/10/2014

Underwriting: Loan Approved w/conditions (7/14/2014); 2nd time in underwriting, satisfied all conditions and sent back in documentation asked for; additional docs back to the underwriter (4th time!) mostly to document gifted funds that were transferred rather than given by paper check--see my most recent message for that saga. 

Appraisal Completed: 7/16/2014 (appraised at full purchase price!)

Final Approval: Clear to close!!!

Closing Date: Closed August 1st, 10:30 am. 


Scores: EX: 690 (FICO 8, 03/22/2016; EQ: 695 (FICO 8, 03/22/2016); TU: 715 (FICO 8, 03/22/2016)
Message 1 of 44
Regular Contributor

Re: August Closers 2014

Updates in Red

Newest Updates in Blue 


Home Location: Akron, OH (Kendlewoods allotment)

Purchase Price: $76,000

Property: 1632 sq ft

Submitted Offer on: 07/03/2014

Signed Contract on : 07/04/2014

Lender Name: Chris (LO)

Notes about Lender: Chris has been great, I was a nervous wreck over this whole experience but he has been reassuring the entire time. 

Type of Loan: FHA 30 year fixed

Inspection: 07/08/2014

Purchase contract addendums: 07/10/2014

Loan Rate: 4.375%

Application submitted: 7/7/2014

Went to underwriting: 7/16/2014

Appraisal Ordered: 7/15/2014

Underwriting: Loan Conditional Approval 07/30/2014 - all conditions met 07/31 except for re-appraisal and new inspections

Appraisal Completed: 07/26/2014 - 16,000 over selling price but with $6,100 worth of required repairs.

Final Approval: Pending

Closing Date: August 25, 2014 (changed due to appraisal issues, but lender thinks 08/12 is still possible.)


I can't believe even though I am super stressed everything has been going very well. Can't wait to start enjoying my new in ground pool lol. I spoke too soon obviously, appraisal came back with $6,100 work of required repairs to fund the loan, ugh. Sellers and I worked out all the repairs, completed yesterday. Have the two required inspections (because of appraiser notes) scheduled for today, appraiser has been contacted to come back out and check issues. If he gets out today or tomorrow closing is still good for August 12.

Message 2 of 44
Regular Contributor

Re: August Closers 2014

Updates in Pink



Home Location: Katy, TX (suburb of Houston, TX)

Purchase Price: $142, 900

Property: 1352 sq. ft. Submitted Offer on: 05/17/14

Signed Contract on: 05/17/14

Lender Name: DHI Mortage… Ben (LO)

Notes about Lender: Everyone has been great so far.  Ben is very thorough and made the process so easy for us. He is quick to respond to emails and phone calls. Not really happy with Processor response times.

Type of Loan: FHA 30 year fixed

Inspection: Pending ( Home is almost finished being built ) 7.31.14 Home completed

Loan Rate: 4.675%

Application submitted: 7/7/2014

Went to underwriting: 7/10/2014

Appraisal Ordered: 7/23/14

Underwriting: Loan Approved w/conditions

Appraisal Completed: 7/30/14 Appraised at 143, 000

Conditions Returned: 7/16/14 (7.23.14 Still waiting to hear back if our conditions were approved) 7.29 sent back to underwriting with conditions

Final Approval: Pending

Walk Thru: 8.15.14 @11am

Clear to Close: Pending

Closing Date: August 22, 2014@ 3pm


This process has went so much smoother with the builder than expected. I just can't wait for it to be over and move into our new home.

7.30.14-The house is about 90% completed. I am hoping they are finished with it by 7.31 the original completion date so we can close by the 15th instead.

7.31.14-Home is completed. We just scheduled ou 1st walk thru for 8.15. Just waiting on the final approval and DPA to be funded. Almost done..yah Smiley Very Happy

Message 3 of 44
Established Contributor

Re: August Closers 2014


Home Location: North Kansas City, MO

Purchase Price: $224,000

Property: 2400 sq ft

Submitted Offer on: 06/4/14

Signed Contract on : 06/9/14

Lender Name: Community America Credit Union

Notes about Lender: Low rates. Fast processing. Corporate preferred and got $500 off closing costs + $350 for opening new account. Lowest PMI and guaranteed not to sell off the mortgage. 

Type of Loan: Conventional 30 yr fixed

Inspection: 6/23/2014

Purchase contract addendums: 6/24/14

Loan Rate: 4%- No Points

Application submitted: 6/1/2014

Went to underwriting: 7/14/2014

Appraisal Ordered: 7/14/2014

Underwriting: Pending Still

Appraisal Completed: Haven't heard back

Final Approval: Pending

Closing Date: August 14, 2014


For us the further away the closing date the better. We are currently in a rental and the longer it takes the better. Everything has gone smoothly thus far but I did ask if the appraisal was done (I was charged on my cc for it) but haven't heard anything. I'm curious what it came back as. 

Message 4 of 44
Regular Contributor

Re: August Closers 2014

Updates in Blue

New updates in purple

Newest updates



Home Location: Riverton, UT

Purchase Price: $200,000

Property: SFH - 1856

Submitted Offer on: 06/18/14

Signed Contract on : 06/19/14

Lender Name: Jim (Broker). Pacific Union Financial (this office used to be Supreme Lending)

Notes about Lender: Takes forever to get anything from him, numbers jump around alot. Did give us a letter to send to bureaus to fix a credit issue. This is his side job. Never let a coworker or friend be your mortgage broker! No accountability. They screwed everything up. Pulled our credit 2 more times instead of just doing a soft pull refresh at the end. Made us extend 3 times and the last time our sellers made us switch lenders or they wouldn't sign. We were never able to extend our financing deadline so we had already lost our earnest money unless things closed.

Type of Loan: Conventional 30 year fixed

Inspection: 07/11/2014

Purchase contract addendums: 07/07/14

Addendum 5: 07/25/14 (Extension of financing deadline to 08/01/14 and closing date to 08/06/14)

Addendum 6: 08/06/14 (Extension of closing deadline to 08/08/14 no extension of financing deadline)

Addendum 7: 08/07/14 (Extension of closing deadline for 2 weeks on the condition that we use a different lender)

Loan Rate: 4.25%

Application submitted: 7/15/2014

Went to underwriting: Don't know if it's there or not...supposedly yes? We do know that they sent some form out to the SS Admin and IRS requesting info.

It wasn't in underwriting at all, didn't go to underwriting until 07/28. Were told that it would be there up to 48hrs. Today is day 4 and still no approval. Deadline is tomorrow!!!!! Got conditions on afternoon of 07/31. Finished conditions. 08/01 all sorts of problems and hell arose. Went to UW like 6 times this week supposedly. 

Appraisal Ordered: 7/16/2014

Underwriting: Passed DU supposedly going to final u/w on Mon. Our LO told us multiple times that everything would be done by 7/25 LIAR!! They couldn't verifiy salary correctly with the VOE, ran credit hard pulls extra times caused a rerun through DU to kick it out because of extra inquiries. Making us pay off 2 credit cards because the DU denial during the 2nd run forced them to change our DTI to 43% instead of 45% and only with his base salary no OT, shift differentials, annual profit sharing or anything. Supposedly CTC. Title got docs after business hrs on Friday.

Appraisal Completed: Scheduled 7/22/2014 Report received on 7/25/2014. Came in at 201k 1000k over buying price lol based on comp method.

Final Approval: Supposedly 08/08/14

Closing Date: August 5, 2014; Aug 6 hopefully. Our LO is a LIAR Supposedly 08/13/14 because sellers bank has 72hrs to review HUDs since its a short sale.


Edit: I should add that the timeline is a little long because it is a short sale. We signed a contract with the sellers in June but didn't get bank approval for them to sell until 07/07! 

Message 5 of 44

Re: August Closers 2014


Current EX Score: 760

Message 6 of 44
Regular Contributor

Re: August Closers 2014

Cant wait to get into my new home and enjoy the two professional horseshoe pits, 30foot round above ground pool and basement that is large enough for my pool table! (1100 sq foot finished with zero support beams or walls!) also to apply for my property tax exemption so I dont have to worry about tha and have a lower payment! LOL


Updates in This color!!!


Home Location: Carbondale, Pa

Purchase Price: $160000

Property: SFH - 2600 sq ft 3bed/3bath with fully finished basement , 2 car detached garage with additional 1/2 bath!

Submitted Offer on: My best friends home so no offer really put it.

Signed Contract on : 6/24/14

Lender Name: Veterans United LO Celina TC Brandon

Notes about Lender: I think I hit the LO/TC team lottery. Very quick to respond to emails and questions. Very reassuring and they have a sense of humor! Recieved a custom welcome matt for my new home in the mail from the team!

Type of Loan: VA 30 year fixed

Inspection: 7/9/14 ( roof will need to be done in the next couple years, couple other minor issues)

Purchase contract addendums: 7/16/14 needed to remove appliances from contract and explain subsurface rights ownership.

Loan Rate: 4.25% locked 8/5

Application submitted: Initial prequal was 6/3 preapproval was 6/19 via manual underwriting due to waiting for bankruptcy to hit 2 year mark (6/18)

Went to underwriting: initial underwriting 7/14 conditional approval received 7/16

Appraisal Ordered: 7/8

Underwriting: 6 conditions recieved on initial underwriting. All 6 responded to.

Appraisal Completed: Today I believe 7/21 appraisal Back 7/28 166,000 no repairs needed

Final Approval:  8/7/14 clear to close 

Closing Date: Est. Closing date: Aug. 21st but everyone involved is shooting for sooner. ASAP in fact! Shooting for 8/11/14

Message 7 of 44
Valued Member

Re: August Closers 2014

Home Location: Lehigh Valley, Pa

Purchase Price: 83k with 3% assist

Property: Half double 3 bed 1 bath

Submitted Offer on: 6/26

Signed Contract on : 6/27


Lender Name: Mortgage America

Notes about Lender: Fantastic!

Type of Loan: USDA Guaranteed


Inspection: 6/29

Purchase contract addendums: All repairs completed!


Loan Rate: 4%

Application submitted: 7/3

Appraisal Ordered: 7/8

Appraisal Completed: 7/15

Final Approval:

Closing Date: Est. Closing date: 8/11

Message 8 of 44
New Contributor

Re: August Closers 2014

Home Location: IL
Purchase Price: 410k
Property: 3700 sq ft
Submitted Offer on: 7/9
Signed Contract on : 7/10

Lender Name: Jason (broker)
Notes about Lender: I love this man! He's very thorough, answers all of my questions. Even when he's supposed to be out of the office, he emails me or texts me with updates.
Type of Loan: 30 yr FHA

Inspection: 7/14
Purchase contract addendums: pending

Loan Rate: floating right now
Application submitted: 7/17
Appraisal Ordered:
Appraisal Completed: 7/21
Final Approval: waiting for conditional approval
Closing Date: Est. Closing date: 8/29

Starting Score:EQ 653, TU 612, EX 618 (pulled by Mort Broker)
Current Score:EX643TU637EQ659
Goal Score: 700's

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Message 9 of 44
Valued Contributor

Re: August Closers 2014

Updates in blue

New updates in Plum

New updates on 8/6/14

Home Location: Benicia, CA (25 min to Napa, 45 min to San Francisco)

Purchase Price: $473500

Property: REO Foreclosure: SFH: 2115 sq ft

Submitted Offer on: 06/28/14

Signed Contract on : 07/10/14

Lender Name: Mike, Broker

Lender Bank: Quicken has just informed us that the Title Company is on their blacklist.  Quicken has had papers for 3 wks & didn't note title company until they were clearing closing. 

Very nice and experienced. Provided very good information while I bid for property on line

Type of Loan: Conventional 30 yr fixed

Inspection: 07/14//2014

Pest Inspection: 07/16/14

Open Escrow:07/18/14

Loan Rate: 4.125%- No Points

Application submitted: 07/22/14

Went to underwriting: 07/24/2014

Appraisal Ordered: 07/24//2014

Underwriting: 7/28/14 Conditional approval received 

Appraisal : Pending; Scheduled for 7/29/14/ LO received appraisal.  Appraised for 4K over  purchase price. Waiting for underwriter to review

Appraiser set two conditions for re-check.  1) Cover plate for wires(plate had fallen off 2) Turn on Utilities (utilities were on.  Appraiser wanted to go to property alone and didn't turn on breaker box or water source).  On REO properties you turn them off when you're not viewing so that don't have to deal with pipes or problems with wires, etc.

Final Approval: 

Est Closing Date: August 12, 2014 (Required by REO bid contract)


Because it's a Bid Foreclosure, I'm concerned about the appraisal and the closing date. I was preapproved and feel comfortable with getting the loan as long as the appraiser doesn't say something is unsafe. I've had two inspections done and nothing was coded unsafe.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850

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Message 10 of 44