December 2020 Closers

[Anonymous]

Could share whot he lender is? 

Did you have any issues getting approved with a 654 mortgage score? I will be a similar profile this spring. 

[jsecook]

We went with a local family owned mortgage broker in Knoxville. So far we haven't had any issues but currently going through underwriting and nothings final until closing of course!

[Anonymous]

New Home Build

Purchase Price: $219,000

DP: 3.5%
Loan Type: FHA

Mid Score: 689

Close Date Tent: 12/23/2020

45 day Rate Lock: 3%

🤞🏽❤️

[Anonymous]

Moving here from November Closers.....

Purchase Price: $555,233

DP: 8% (needed to get under conforming)

Loan Type: Conventional

Rate Lock: 3.65 😢

Mid Fico: 653

New Construction in SoCal; builders lender denied...not surprising as its all I read about would happen. Incentives would have been 10k but since they denied it was reduced to 5k. Initial closing was 11/13...

Moved back to initial lender; instant DU approval- file sent to Underwriting same day- tent close of 12/11....

....waiting again.... hoping we can get this done sooner as this has been a wild year and we just want to get settled. Lease ends 12/9 so now we have to see if we can get an extension. 

[jsecook]

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@jsecook wrote:

Figured I'd get a thread going for December Closings! Currently in contract to sell our home and in contract on a new one! Had the inspection done on our new place today. Seems to have gone well just a couple cosmetic things. 

List Price: $545,000

Purchase Price: $535,000

DP: 5%
Loan Amt: $508,300

Loan Type: Conventional

Mid Score: 654

Close Date Tent: 12/12/2020

45 day Rate Lock 3% even buying down .12%. - We shopped rates and came back as high as 3.65 with one lender. The one we went with has extremely competitive rates and closing costs. Have worked with them in the past, so they were a little more helpful in shopping the PMI and cutting down the broker fees. 

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Just got word of the appraisal! Came in 25K over contract price! Contract at $535,000 and appraised value is $560,000! Woohoo! 

[Anonymous]

I got conventional approved with 653 mid

[irod1277]

We've hit a snag. The appraisal came back at $185k. The listing price was $219,900. The offer was accepted at $220k. The buyer wants a second appraisal. He's had 2 deals fall through since June. The first at $195k and the second at $190k. They stated the reason was loss of hours on the part of the buyers. All of my paperwork is good to go. I'm set to close Dec 17. Before the appraisal came in today they wanted to know I'd be willing to lose earlier I said no because we were waiting on the appraisal. Now we can't because he wants a second appraisal. 

[CreditOnTheRise1]

My file went to underwriting two days ago. Fingers crossed for a conditional approval. Hoping that getting DU approval before actually means something!

[Anonymous]

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@CreditOnTheRise1 wrote:

My file went to underwriting two days ago. Fingers crossed for a conditional approval. Hoping that getting DU approval before actually means something!

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Ive been in underwriting since last Friday. Was told there is a 10 day turnaround. Had DU approval as well. This wait is PURE TORTURE!!!

[Anonymous]

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@Anonymous wrote:

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@CreditOnTheRise1 wrote:

My file went to underwriting two days ago. Fingers crossed for a conditional approval. Hoping that getting DU approval before actually means something!

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Ive been in underwriting since last Friday. Was told there is a 10 day turnaround. Had DU approval as well. This wait is PURE TORTURE!!!

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Did you start underwriting after getting the appraisal report back? I was under the impression that mine started 3 weeks ago and everything will be good to go for my file to be sent to USDA once appraisal is back. Well... Appraisal report came back yesterday (appraised value is higher than the selling price), when I asked my LO when my files are going to be sent to USDA, he responded saying that UW still need to review the report which will take 4 days upon submission, (sigh)! It won't probably get done until after Thanksgiving. Closing day is 12/07, good luck with that!