So for the last year I took upon fixing up my credit. I went from 515 to 647 within 6 months. I have a great job and make $5100/mo. I'm 28 years old and buying my first home. Last weekend I signed a contract for $153k on my first home. They accepted. Now I have to wait for a Relocation company to sign paperwork since they are buying the home from the seller who was relocated by her company. Prior to this I was given a mortgage credit approval letter for up to $157k . The home is only 8 years old and 3 stories. 2 bed 2.5 bath with a loft, finished basement, 2 car garage, end unit townhome, close to highway(1 mile), close to train (2miles,) should have no problem appraising at or above what I offered as most units in the subdivision are going for $160k-$175k. Inspection should be fine as well. On my mortgage credit approval letter they had few conditions like show updated funds in bank account, sign paperwork for closing. They had nothing about paying old collections, nor did they mention anything about my current position being only employed there for 4 months, my previous employer i was at for almost 6 years. I called to ask if this was going to change after I found a home. They said no. Should I belive them or not? Mortgage would be through Wells Fargo, RE/MAX realtor. They said i could close as soon as mid november. I won't be having a home inspector come out til I get the signed paperwork from the relocation company per my Attorney's suggestion. Do things tend to change after an offer is accepted? I'm new to home buying so keep that in mind. Thanks!
Relocation company signed and sent paperwork. I signed and sent back. Received a large packet yesterday from Wells Fargo with some paperwork to sign. I called my Loan officer to see what I needed to sign and send back. He said nothing as it was already back in underwriting...so I guess that's good news.