December Closers!
Location: Dakota County, Minnesota
Purchase price: $481,222 - $455,012 financed
% 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.
The final loan paper is in and things are wrapping up, close on 12/20 is certain.
Closing costs are $11,305.12
Some costs:
Underwriting fee $1055.00
Appraisal Fee $550
12 mo Insurance premium $1154.75
