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December 2016 closers???

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Established Contributor

Re: December 2016 closers???


@mvnup2017 wrote:

@mvnup2017 wrote:

Housing Type: New construction

Purchase Price: $275,380 (with $6000 in seller paid closing costs) 

Signed Contract: 09/13/16

Location: Raleigh, NC

Property Type: Single Family

Type of Loan: FHA (mid score of 630)

Loan Rate: 4% (locked 2 weeks ago when rates started rising) :-\

Appraisal: TBD

Cleared to close: TBD

Final Walk through: 12/16/16

Closing Date: 12/22/2016

Closed On: TBD

 

 

I have watched these posts come and go each month, impatient, daydreaming, wishing for the day and it is finally here. I'm a single mom and this is a new construction home with Pulte mortgage/Centex homes. My scores were in the 400's a year and a half ago, rebuilt for a while and finally about to close on my first home.


Appraisal came back at $280,000 - loan is for $270,000 so not sure if that means I have $10k in equity? 


If it's new construction like me they generally come close to selling price + upgrades and if it's pre-owned then probably equity! Congrats

" EX 698 EQ 701 TU 707 MMS 705"
Message 21 of 45
Established Contributor

Re: December 2016 closers???


@jjking54 wrote:

Purchase Price: $97,900 (with $3000 in seller paid closing costs) 
Signed Contract: 11/3/16
Location: Brodhead, WI (just south of Madison)
Property Type: Single Family
Type of Loan: USDA (mid score of 641)
Loan Rate: 4"something" ... 
Appraisal: $103,000 - 11/23

Cleared to close: TBD

Final Walk through: The house is unoccupied, and we have family we visit in the area often, we walk through a lot. Going to do so again this Saturday.

Closing Date: 12/15/2016
Closed On: ?

 

 

House was built in 1900 ... a gorgeous old farm/Victorian ... needs some work, but we're getting it for a song. Home inspection was last weekend, no major concerns that we didn't know about already. Plan is for me to continue to improve my credit, so that we can refinance sometime late next year, and possibly take money out to do some improvements, or refinance and get a Home Equity Loan. 

 

EDIT 11/28 To add - Appraisal received this morning, over the contract price, so I'm happy. 


Well, I can't say it hasn't been interesting ... 

 

First, our closing is going to be delayed, but hopefully (according to my lender yesterday), just one week until next week -- not ideal with the holidays around that corner but whatever. 

 

The USDA local office has been a bit difficult to deal with (and my loan is somewhat complicated as well, so a little of it is to be expected) ... The lender and the USDA office have been going around and around on my wife's debt prior to our marriage, and how it may factor in. The office we work with has been saying one thing, but when my lender contacted other neighboring offices, they said our office is wrong, so it's been a matter of convincing them they're wrong. 

 

Anyway, after all this, our purchase price was amended up, so that we can put all of the closing costs into the loan via seller credit. And of course our rate has gone up since the election ... so wonderful ... but we're nearing the finishing line. That's what matters. 

Message 22 of 45
Established Member

Re: December 2016 closers???


@jjking54 wrote:

@jjking54 wrote:

Purchase Price: $97,900 (with $3000 in seller paid closing costs) 
Signed Contract: 11/3/16
Location: Brodhead, WI (just south of Madison)
Property Type: Single Family
Type of Loan: USDA (mid score of 641)
Loan Rate: 4"something" ... 
Appraisal: $103,000 - 11/23

Cleared to close: TBD

Final Walk through: The house is unoccupied, and we have family we visit in the area often, we walk through a lot. Going to do so again this Saturday.

Closing Date: 12/15/2016
Closed On: ?

 

 

House was built in 1900 ... a gorgeous old farm/Victorian ... needs some work, but we're getting it for a song. Home inspection was last weekend, no major concerns that we didn't know about already. Plan is for me to continue to improve my credit, so that we can refinance sometime late next year, and possibly take money out to do some improvements, or refinance and get a Home Equity Loan. 

 

EDIT 11/28 To add - Appraisal received this morning, over the contract price, so I'm happy. 


Well, I can't say it hasn't been interesting ... 

 

First, our closing is going to be delayed, but hopefully (according to my lender yesterday), just one week until next week -- not ideal with the holidays around that corner but whatever. 

 

The USDA local office has been a bit difficult to deal with (and my loan is somewhat complicated as well, so a little of it is to be expected) ... The lender and the USDA office have been going around and around on my wife's debt prior to our marriage, and how it may factor in. The office we work with has been saying one thing, but when my lender contacted other neighboring offices, they said our office is wrong, so it's been a matter of convincing them they're wrong. 

 

Anyway, after all this, our purchase price was amended up, so that we can put all of the closing costs into the loan via seller credit. And of course our rate has gone up since the election ... so wonderful ... but we're nearing the finishing line. That's what matters. 


Ouch! I feel your pain through the screen. But you're so close...a month from now it will be a distant memory! Prior-to-close has upped my anxiety factor as well....I can breath easier with my keys in hand Smiley Happy

Message 23 of 45
Highlighted
Established Contributor

Re: December 2016 closers???

More progress ... 

 

Got the rate lock document, and the list of additional documentation they needed to approve, and I've addressed just about all of them. 

 

I keep a folder on my laptop, for every mortgage-related document I've had to provide, or that I've received, or that I've had to sign and send back ...  we're at 63 total files at the moment, and nearly 60MB of space. 

 

I'll be so glad when those keys are in my hand ... 

Message 24 of 45
Established Contributor

Re: December 2016 closers???


@jjking54 wrote:

More progress ... 

 

Got the rate lock document, and the list of additional documentation they needed to approve, and I've addressed just about all of them. 

 

I keep a folder on my laptop, for every mortgage-related document I've had to provide, or that I've received, or that I've had to sign and send back ...  we're at 63 total files at the moment, and nearly 60MB of space. 

 

I'll be so glad when those keys are in my hand ... 


63 files!! That's huge, ours didn't break 10.  Getting the keys feels great, it's been 8 days in the house and it still doesn't feel like I own it- good luck and keep us posted.

" EX 698 EQ 701 TU 707 MMS 705"
Message 25 of 45
Regular Contributor

Re: December 2016 closers???

We were just given our clear to close, signing Dec 19th!!!

 

We went with Wells Fargo for a Conventional 30 year fixed Jumbo, locked in at 3.5%. This was for new construction, so technically it was considered a refinance with no cash out.  With all the horor stories out there on WF, I was truly pesimistic, but the ladies we worked with were great and although it took 60 days for approval, it was worth it!





Message 26 of 45
Established Contributor

Re: December 2016 closers???

Joining in here!!! However, my closing date is set for 1/2/17.  I am pushing my team to get in done this year! So far so good!

 

Purchase Price: $577,750
Signed Contract: 12/9/16
Location: Los Angeles, CA
Property Type: Single Family
Type of Loan: FHA (mid score of 700)
Loan Rate: 4.25 Locked 12/13
Appraisal: TBD Ordered 12/13

Cleared to close: TBD

Final Walk through: TBD

Closing Date: 1/2/17 (But pushing for 12/30/16!)
Closed On: ?

 

Already had our inspection, termite, appraisal ordered, underwriting approval withh final conditions, and they are ordering our tax transcripts today.

 

 


Starting Score: 615
Current Score: 709
Goal Score: 750


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Message 27 of 45
Established Contributor

Re: December 2016 closers???


@happy0510 wrote:

Joining in here!!! However, my closing date is set for 1/2/17.  I am pushing my team to get in done this year! So far so good!

 

Purchase Price: $577,750
Signed Contract: 12/9/16
Location: Los Angeles, CA
Property Type: Single Family
Type of Loan: FHA (mid score of 700)
Loan Rate: 4.25 Locked 12/13
Appraisal: TBD Ordered 12/13

Cleared to close: TBD

Final Walk through: TBD

Closing Date: 1/2/17 (But pushing for 12/30/16!)
Closed On: ?

 

Already had our inspection, termite, appraisal ordered, underwriting approval withh final conditions, and they are ordering our tax transcripts today.

 

 


Good Luck in pushing to close out the year, stay on them!

" EX 698 EQ 701 TU 707 MMS 705"
Message 28 of 45
Established Contributor

Re: December 2016 closers???


@gsully00 wrote:

@happy0510 wrote:

Joining in here!!! However, my closing date is set for 1/2/17.  I am pushing my team to get in done this year! So far so good!

 

Purchase Price: $577,750
Signed Contract: 12/9/16
Location: Los Angeles, CA
Property Type: Single Family
Type of Loan: FHA (mid score of 700)
Loan Rate: 4.25 Locked 12/13
Appraisal: TBD Ordered 12/13

Cleared to close: TBD

Final Walk through: TBD

Closing Date: 1/2/17 (But pushing for 12/30/16!)
Closed On: ?

 

Already had our inspection, termite, appraisal ordered, underwriting approval withh final conditions, and they are ordering our tax transcripts today.

 

 


Good Luck in pushing to close out the year, stay on them!


Thank you!!! We've got an incredibly efficient group of people working on our deal so I am hopeful!


Starting Score: 615
Current Score: 709
Goal Score: 750


Take the FICO Fitness Challenge
Message 29 of 45
Valued Member

Re: December 2016 closers???


@OBNurseNelly wrote:

Purchase Price: $258,000 (with $5600 in seller paid closing costs) 
Signed Contract: 11/1/16
Location: La Vernia, TX 
Property Type: Single Family
Type of Loan: FHA 30yr fixed
Loan Rate: 3.625
Appraisal: $263,000 on 11/20/16

Cleared to close: 11/30/16

Final Walk through: Noon on 12/7/16

Closing Date: 12/07/2016 at 2pm
Closed On: Pending


Closed on 12/7/16, Sellers went to closing on Dec 9th.  All went well!!  We are currently in our new home!!  

FICO's EQ:621 (10/1/14) TU:627 (09/14/14) EX:647 (09-14-14)
Beginning FICO's EQ:503 05/12/13 TU:510 (05/12/13) EX:501 (05/12/13)
GOAL: 750-800
UPDATE 01/02/2015 EQ: 661 TU: 683 EX: 685
Gardening and Myfico Fitness Challenge: Goals: scores >700 by June 2016, CC Util 10% by June 2017, Home Purchase goal date: Dec 2017
Message 30 of 45
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