We are finally closing on our home today at 4:00 EST. 30 year fixed rate, VA loan. We end up buying some points because my credit score was not the strongest at the time of the application. Here are some timelines.
July 19, 2019 - Submitted an application.
July 22, 2019 - Got pre-approved.
July 28, 2019 - Submitted an offer on a house.
July 31, 2019 - Sellers accepted the offer, tentative closing date set for August 30, 2019.
August 9, 2019 - Appraisal was ordered, and our application was submitted to underwriter.
August 22, 2019 - Appraisal received.
August 30, 2019 - Conditional pre-approval received from underwriter.
September 6, 2019 - All conditions submitted.
September 9, 2019 - Clear to Close.
September 11, 2019 - Closing
Congratulations on your new home and thank you for providing so much information! Great motivation for those of us who are queing up for future home purchases!
For those of you who are working on your credit score and trying to clean up, dont give. I started cleaning mine up in February of this year, paying off collections and getting my utilization % down did wonders for my credit score. I went from a middle mortgage score of 476 to 613 in just over 5 months.
And also, that is not the Final Closing Disclosure, the are currently doing a new one because we havent gotten credit for the appraisal fee that we already paid. So we might not even have to bring money to the closing.
So inspiring! Thanks for sharing your journey. We also started in the 400 club for mortgage score. Recently reached 600 for two of them and waiting for one last collection to fall off. And like you, cap1 and syncrony does not want to let up with the charge offs. Hopefully we can share good news within the next 6 months.
Thank yall everybody. So we signed all of the documents on Wednesday evening, but we were just waiting on the final closing disclosure. When we made the offer on the house, we asked for Seller concessions of up to $6500, final closing costs were around $6200, so we should have gotten some money back, at least $525 for the appraisal that we paid for. Well at the beginning we were supposed to be paying $94 at closing, then changed to $205, then it changed again that we were going to be getting $313, and then only getting $137, so we started to ask questions, wondering why we were only getting $137, and that delayed us from getting the keys. So we had to wait until Thursday morning to get an explanation on the final numbers and they told us that the Lenders wanted us to make an "investment" and thats why we were only getting $137. We finally said fine, and we finally got the keys to the house on Thursday around noon time.