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December 2021 Closers

mike-fico
Established Member

December 2021 Closers

December Closers!

 

Location: Dakota County, Minnesota
Purchase price: $481,222
% Down: 5%
Product:  30 yr Conventional
Mid score:  750
Sellers Credit - $0, Lender: $0
Rate:  3.119% Locked until 1/2/2022.
Estimated Close Date: December 20th,  Previously Dec 13th.

Possible issues: New construction and COVID is the only possible issue our builder is saying! Of course, anything can happen so we went with a 60-day lock.

The build process has been a struggle as the builder has been unable to commit to anything until just recently.  Supply issues, related to the pandemic, as well as labor struggles made it a guessing game.
We are working with an extended family member for the write-up of the mortgage loan and processing.
Estimated closing costs are $11,139
When we received our pre-qualification back in January when a quoted rate then was 1.998, it's been disheartening to see the rates creeping up all year to where we are at today.
We had to move out of our rental property Sept 30th, so since that time all of our items are in storage and we are staying with a family member.  Just finishing our first month, it's been going well, though I'm ready to be in my own space again.
Finish carpentry is wrapping up, and we have confirmed with lighting, appliances, and furniture that everything is just waiting to be installed.

Message 1 of 4
3 REPLIES 3
ajsgurl0805
Valued Member

Re: December 2021 Closers

Location: Ohio
Purchase price: $383,160
% Down: %0
Product:  30 yr VA
Mid score:  me-795, DH-785
Sellers Credit - $0, Lender: $0
Rate:  2.625 locked on (9/14) until 11/16/2021 waiting to hear from loan officer to discuss options
Estimated Close Date: December 15th

Possible issues: This is a new construction but common issues are out of the way hopefully. Original close date was 10/31 but delayed 6 wks. 

Starting scores: Myfico(all) EX:673 EQ:667 TU:692 (4/27/14)
Lender pulled: EX:699 EQ:686 TU:675 (5/2/14
Goal: 700
Message 2 of 4
ajsgurl0805
Valued Member

Re: December 2021 Closers

I am so excited! We got our clear to close today and we scheduled our walk thru yesterday for 12/10. Our closing is scheduled for 12/15. We started this journey in Feb and had a 6 wk delay from our first closing date of 10/31. Almost to the finish line!

Starting scores: Myfico(all) EX:673 EQ:667 TU:692 (4/27/14)
Lender pulled: EX:699 EQ:686 TU:675 (5/2/14
Goal: 700
Message 3 of 4
mike-fico
Established Member

Re: December 2021 Closers

That sounds exciting!  Our builder ran into some issues and moved our close date to the 20th of December.  

The initial appraisal should be done on Dec 6. with a final one done once the home is completed.

One thing we know won't be complete at closing are some pendant lights for over an island that arrived broken and can't be replaced until did January.

 

Message 4 of 4
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